Panasonic:To Launch Sanyo Tender Offer Thursday, Pay Y131/Share

By DJN on November 4, 2009 | Post a Comment
Source:

TOKYO -(Dow Jones)- Panasonic Corp. (6752.TO) said Wednesday it will launch a tender offer Thursday for Sanyo Electric Co. (6764.TO) and pay Y131 a share, in a bid to obtain voting rights of 50% or more in the Osaka-based electronics maker.

The Japanese firm said in a statement that the tender offer is expected to take place between Nov. 5 and Dec. 7. It added that the tender offer will be valued at at least Y402.3 billion.

In trading on the Tokyo Stock Exchange, Sanyo shares ended down 5.3% at Y216.

-By Yuzo Yamaguchi, Dow Jones Newswires, +813 6895 7563; yuzo.yamaguchi@dowjones.com

(END) Dow Jones Newswires

11-04-09 0223ET



Post a comment

Comments Comments

Post Your Comment Post Your Comment

  or     to post comments


Featured Guide

Vault Guide to Resumes, Cover Letters, and Interviews
Vault Guide to Resumes, Cover Letters, and Interviews

US $19.95
It's time for you to look for a job. Maybe it's your first job, maybe it's a job in a new field, or maybe it's just an improvement over the slave pit in which you now toil. Whatever the reason, Vaul More info

Add     PDF download

View all guides