Panasonic to buy Sanyo?

Firms enter into talks

By James Sherwood • Get more from this author

11th November 2008 11:43 GMT

An electronics super giant may soon be created - if Panasonic’s recently announced acquisition negotiations with Sanyo prove fruitful.

It’s estimated that – if the deal goes through – Panasonic will pay around $8.8bn (£5.6bn/€6.9bn) for Sanyo. According to numerous online sources, Panasonic would become a majority shareholder in the firm.

Sanyo’s gone through some tough times of late and has already cut thousands of jobs across the world. However, the firm has a strong focus on production of rechargeable batteries and solar technology.

Panasonic’s President, Fumio Ohtsubo, said the two firms would be able to “increase their competitiveness” in such areas, if the acquisition takes place.