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