Panasonic Raises Sanyo Offer by 8%

Dec 4, 2008  •  Post A Comment

Panasonic, the world’s largest plasma television maker, increased its offer for Sanyo Electronics by 8% to about $8.6 billion, a bid that was rejected by Sanyo shareholder Goldman Sachs, Reuters reports, citing people familiar with the process. The bid from Panasonic, which first said it wanted to buy Sanyo last month, is still 12% below market value, which may cause Goldman to buy Sanyo shares from other stakeholders Sumitomo Mitsui Banking and Daiwa Securities, the wire service says..
—Danny King

Your Comment

Email (will not be published)