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Article: United states : Panasonic To Acquire Shares Of Sanyo Electric Through Tender Offer - Update.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
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Byline: datta03
Electronic products company Panasonic Corp. (PC: News ) Wednesday said it would acquire all the shares of Sanyo Electric Co. Ltd., which has been approved by its Board of Directors. Sanyo's Board has also decided to endorse the tender offer.
Panasonic entered into a capital and Business Alliance Agreement with Sanyo as of December 19, 2008, with the intent of making Sanyo its subsidiary, and to eventually restructure Sanyo.
Panasonic said that it would implement the tender offer for all of Sanyo's common shares, Class A preferred shares and Class B preferred shares, with 3,070,985,000 of Sanyo's issued shares being the minimum ...