Panasonic successfully completes its tender offer for Sanyo shares
Panasonic has successfully completed its tender offer for Sanyo shares, paving the way for turning Sanyo into a subsidiary this month. By making Sanyo its subsidiary, Panasonic is expected to begin full-scale cooperation with the company on rechargeable batteries and energy operations. By making Sanyo its subsidiary, Panasonic is expected to begin full-scale cooperation with the company on rechargeable batteries and energy operations. The deal should result in creation of one of the world’s largest consumer electronics conglomerates.
Under their partnership, Sanyo is expected to utilize its technology to produce solar batteries while Panasonic will handle sales. With the rechargeable lithium ion battery business for cars likely to expand, the two companies intend to heighten their global competitiveness by blending their respective technologies.
