Panasonic Corp just announced that it will pay $4.6 billion to take the reins at Sanyo Electric Company. With the two companies’ powers combined, the result will be one of the largest electronics makers in the world.
Panasonic will pay 403.78 billion yen ($4.6 billion) for 50.2 percent of Sanyo, paying 131 yen per share. The move will enable Panasonic to tap the Sanyo team’s expertise in terms of green technologies like solar panels and … Read the rest
Sanyo (OTC:SANYY) shares continue to rally along with Panasonic (PC) shares (which plans to merge with Sanyo) on news that Toyota (TM) plans to begin purchasing lithium batteries from Sanyo beginning in 2011 according to a Reuters source who remains anonymous since the info hasn’t been made official yet. Toyota plans to purchase about 10,000 batteries a year and rumor has it that they’ll use it in a minivan hybrid expected to launch in about … Read the rest