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Panasonic Makes Sanyo Tender Offer

11/04/2009 09:57:18 AM Eastern

Osaka,
Japan
- Panasonic will launch a tender offer for Sanyo Electric valued at
approximately 402.3 billion yen or about $4.5 billion, according to current
currency rates.

The acquisition, which was 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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