Panasonic Corp said it would acquire smaller rival Sanyo Electric Co, creating Japan's top electronics maker and foreshadowing further consolidation in an industry hit by slowing consumer demand.
The acquisition, which one analyst estimated could cost about $8.8 billion, would fortify Panasonic's competitiveness in rechargeable batteries and solar power equipment as demand grows for greener energy sources.
Panasonic would at the same time become the world's second-largest conglomerate with a major electronics division, behind General Electric and surpassing Hitachi Ltd as the biggest electronics maker in Japan.
Read More >>
The acquisition, which one analyst estimated could cost about $8.8 billion, would fortify Panasonic's competitiveness in rechargeable batteries and solar power equipment as demand grows for greener energy sources.
Panasonic would at the same time become the world's second-largest conglomerate with a major electronics division, behind General Electric and surpassing Hitachi Ltd as the biggest electronics maker in Japan.
Read More >>
