Tokyo - Panasonic announced today it has completed the deal to buy a majority stake in Sanyo Electronics for about $4.6 billion.
Panasonic will buy just more than 3 billion shares of Sanyo Electric stock from several of that company's top stock holders, according to a release revealed today by Panasonic at the Tokyo Stock Exchange. This purchase will give Panasonic 50.2 percent of Sanyo's stock.
| Panasonic Makes Its Long-Awaited Offer To Sanyo |
The deal was initially proposed in Nov. 2008.