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Panasonic Buying Controlling Sanyo Stake

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We already heard the rumours that Panasonic was set to buy Sanyo. Then confirmation was supposed to come on the 7th so it's a couple of days late but, as predicted, the deal is indeed going through.

The deal will cost Panasonic in the region of ¥560 billion (~£4.12) which is a lot of money, especially in this current financial market. In return for that investment Panasonic gains some 70 per cent of Sanyo's shares, giving it pretty conclusive control of the company.

The combined force will comprise Japan's largest electronics maker, which is pretty impressive. Apparently Panasonic gains a large share of the rapidly growing rechargeable and solar-powered battery market, too, which could bode well for ToughBooks of the future - we're never ones to complain about better batteries!

Link:
Wall Street Journal (subscription required).

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