Panasonic Corp., one of the world's largest manufacturers of electronics and home appliances, is buying 50.2% Sanyo Electric Co.The company's shares will be valued at 4.6 billion U.S. dollars (403.78 billion yen), according to a report by the World Trade Organization (WTO). The deal will be worth $4.6 billion (403.78 billion yen), according to The Associated Press.
The acquisition will allow Panasonic use experience and developments Sanyo in the production of solar panels, rechargeable batteries and other energy-saving technologies. The fate of the deal will be decided in mid-December, and the U.S., Chinese and European antitrust authorities are still needed to successfully complete it, but despite this, the stock Sanyo have already increased substantially in price.