The Nikkei news service cited “company sources” in a report today saying Panasonic will launch a tender offer for Sanyo shares as early as January, with plans to make the acquisition a subsidiary after acquiring a majority stake at the end of March.
Panasonic is expected to begin due diligence on Sanyo's assets and hopes to reach a basic agreement with the three largest holders of Sanyo preferred stock about the purchase price and other terms of the tender offer by the end of November, Nikkei’s sources said.
Thursday, November 06, 2008
Update on Panasonic/Sanyo
I posted a few days back that Panasonic is planning to buy Sanyo. Here's an updated report, indicating that the bid will come in January, with a goal of completing the deal by March: