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Panasonic Acquires Sanyo

Posted by: Jonathan M, 08:11 AEDT, Sat December 20, 2008

Panasonic Electronics will pay 9 billion dollars to acquire Sanyo creating a new leader in the Japanese electronics market

The 9 billion dollar deal would allow Panasonic, which makes Viera TVs and Diga Blu-ray disc players, to take advantage of struggling Sanyo's green businesses in solar panels and rechargeable batteries.

Sanyo shares dropped 3.6 percent while Panasonic shares gained 2.9 percent after trading ended in Tokyo.

Sanyo was founded by a brother-in-law of Panasonics founder.

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