Stock markets have reacted strongly to Panasonic’s plans to buy up subsidiaries Sanyo and Panasonic Electric Works.
Panasonic released details of its tender offer for
shares of Sanyo and Panasonic Electric works on July
29. The news was quickly picked up by news
agency Reuters, which sparked a drop in Pansonic’s share
price while Sanyo enjoyed a 26 per cent
boost.
The technology giant claims to have its eyes
on a greener future as it raises up to
$9.4 billion (€7.2 billion), in cash and shares, for
the purchase which will allow it look outside the audiovisual industry.