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Panasonic Gets EU Antitrust Approval for Sanyo Acquisition

Authored by Mark Hefflinger on September 29, 2009 - 8:23am.
Brussels - Japanese electronics firm Panasonic (Matsushita) (NYSE: PC) has gained approval from European Union antitrust regulators for its proposed $4.34 billion acquisition of rival Sanyo, provided it divests several units, Reuters reported.

Panasonic will need to divest several battery production facilities in locations where the EU believes a combined Panasonic-Sanyo would decrease competition.

Panasonic is the top plasma TV manufacturer in the world, while Sanyo is the top maker of rechargeable batteries.

Japan has already approved the proposed deal, which still awaits regulatory approval from countries including the U.S. and China.

 

Related Links:
http://snipurl.com/s7xxh (Reuters)

Published in DMW Daily, September 29, 2009
tags: Deals | TV | Acquisitions | Panasonic | EU | Sanyo |



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