Panasonic to Acquire SANYO Common Stock in Tender Offer

Panasonic (PC) will acquire the shares of common stock of SANYO Electric Co (SANYY) through a tender offer, Panasonic announced.

Panasonic currently owns 50.5% of the aggregate number of SANYO's issued shares following a 2009 tender offer, Panasonic said in a statement.

The new tender offer will begin Aug. 23 and end on Oct. 6. The purchase price will be 138 yen ($1.5836) per share of common stock. No minimum or maximum number of shares to be purchased has been established
Read Full Story

Markets

DJIA 24,100.51 -496.87 -2.02%
NASDAQ 6,910.67 -159.67 -2.26%
NIKKEI 225 21,374.83 -441.36 -2.02%
HANG SENG 26,094.79 -429.56 -1.62%
DAX 10,865.77 -58.93 -0.54%
USD (per EUR) 1.13 -0.01 -0.47%
JPY (per USD) 113.43 -0.12 -0.11%
GBP (per USD) 1.26 -0.01 -0.51%
USD (per CHF) 1.00 0.00 0.02%