Panasonic Makes Its Long-Awaited Offer To Sanyo
By Steve Smith -- TWICE, 11/9/2009
OSAKA, JAPAN — Panasonic launched its long-awaited tender offer for Sanyo Electric valued at approximately 402.3 billion yen or about $4.5 billion, according to current currency rates.
The acquisition, announced last December, is expected to be completed by this December, according to various reports.
The tender offer was finally made after going through a series of regulatory reviews by various countries worldwide about possible antitrust violations.
The transaction would make Sanyo a subsidiary of Panasonic and would make it a major player in batteries for green grid technologies and a wide range of CE-related products using lithium-ion technology, solar photovoltaic cells and batteries for electric vehicles, among other areas.
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