Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
Panasonic considering acquiring Sanyo: reports
AFP - 1 hour 58 minutes ago
TOKYO (AFP) - - Japan's Panasonic Corp. is considering buying its domestic rival Sanyo Electric Co. to become the nation's largest electronics manufacturer, news reports said Saturday.
Under the plan, Panasonic was to begin negotiations with the three top shareholders of the troubled electronics firm as early as this month, the Nikkei business daily, Jiji Press and Kyodo News reported.
The shareholders -- Sumitomo Mitsui Banking Corp., the Daiwa Securities SMBC group, and the Goldman Sachs group -- hold a total of nearly 430 million preferred shares in Sanyo.
In 2006, Sanyo issued preferred shares worth 300 billion yen (3.1 billion dollars) to the three shareholders.
If converted into common shares, the shares would represent some 70 percent of Sanyo's outstanding issues in terms of voting rights.
Panasonic, which changed its corporate name from Matsushita Electric Industrial on October 1, hopes to secure a basic agreement with the three financial institutions by the end of the year, the reports said.
Through the acquisition of Sanyo, Panasonic hopes to boost its lithium-ion battery sales and newly-launched solar battery businesses, they said.
The combined projected group sales of Panasonic and Sanyo for the year ending March 2009 come to 11.2 trillion yen, surpassing the 10.9 trillion yen sales estimate for Hitachi Ltd., Japan's largest electronics manufacturer.
It was not possible to immediately confirmation the reports.
Email Story
IM Story
Printable View
Blog This
Recommend this article
Average (0 votes)
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: Business
Evidence of a recession piles higher with new dataAP - 1 hour 1 minute ago
Column: Banks using government money for dealsAP - 1 hour 5 minutes ago
China to be hit hard by global recession-Bank of China execReuters - 1 hour 5 minutes ago
Boeing ordered to pay ICO $236 million in damagesAP - 1 hour 9 minutes ago
Pakistan c.bank to buy T-bills in 2-day reverse-repoReuters - 1 hour 34 minutes ago
Enlarge Photo
Panasonic considering acquiring Sanyo: reports
Related Photos
Slideshow Full Photo Coverage: Business & Economy
Most Popular – Business
Viewed
Japan joins wave of rate cuts as recession fears grow
Schwarzenegger mocks Obama as campaign home stretch heats up
Australian F1 race posts record financial loss
BBC chief quits, star presenter suspended over offensive prank
When men see red, they see hot: study
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology