CORP TALK: News just came off InformationWeek.com that consumer electronics company Panasonic might be acquiring Sanyo — yes, the same Sanyo which pioneered lithium-ion batteries, is the world’s largest producer of rechargeable batteries and has a commendable solar panel business on the side.
The report follows on with an estimated purchase price hovering at around US$9 billion and a belief that by acquiring Sanyo, Panasonic would be able to enhance its current battery operation.
Panasonic president Fumio Ohtsubo explained Panasonic’s decision at a news conference: “Some people may wonder why we join hands with Sanyo when the economic outlook is this cloudy. I believe we need to take bold steps for growth in the time of drastic changes like this while strengthening our business operations.”
LATEST added on 03/03/09: It seems that the completion of the acquisition won’t happen so soon due to procedural matters which Panasonic has to undertake in Japan, US, China and Europe. Panasonic is reported to be making an announcement a new buyout schedule soon. (Editor opinions: 2)
HWM Indonesia: The acquisition can be seen more of a synergistic “merger” rather than a typical acquisition. Panasonic’s strength in the consumer electronics and communications fields will definitely receive a boost from similar powerhouse Sanyo. (more…)