Panasonic in discussions to acquire Sanyo

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Panasonic Corporation and Sanyo Electric have started formal discussions that could lead to Panasonic acquiring Sanyo. A possible deal could be concluded by the end of December, 2008, the companies stated. The companies claimed that direct synergies between the two companies meant that the deal was highly likely.

Panasonic and Sanyo claimed that their complementary technology in the rechargeable battery market would enable it to expand its business due to larger global sales network. This also applied to Sanyo’s solar business.

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Consolidating R&D and semiconductor manufacturing would also reduce costs the companies said.

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