Date:20/12/2008 URL: http://www.thehindu.com/2008/12/20/stories/2008122052671400.htm

Business

Panasonic to buy Sanyo for $9 billion

TOKYO: Panasonic will acquire rival Japanese electronics maker Sanyo for up to 800 billion yen ($9 billion) through a public tender offer after top shareholders, including Goldman Sachs, agreed to the takeover, the companies said on Friday. The deal would create one of the world’s biggest electronics companies.