Panasonic Moves Ahead With Sanyo Takeover

Nov 5 2009 | 9:23am ET

Japan’s Panasonic Corp. will make a formal takeover bid for Sanyo Electric Co., in a move that will make it a powerhouse in the cleantech sector.

Panasonic said Wednesday it had received enough assurance from world regulators to go ahead with the JPY 400 billion ($4.45 billion) deal. The takeover will give it a strong position in three green business areas: solar panels, fuel cells and rechargeable batteries for hybrid and electric vehicles.

European antitrust regulators approved the deal in September, and China gave it the green light on Friday, although it stipulated that Panasonic reduce its stake in a joint battery venture with Toyota. The deal has also received informal consent from U.S. regulators.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note