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.
