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Panasonic Sanyo deal on brink of collapse

IT IS being reported that Panasonic's bid to acquire fellow air-conditioning manaufacturer Sanyo, has stalled and may be on the brink of collapse after one of Sanyo's three main shareholders ended talks over the acquisition.
Goldman Sachs, which holds around 40% of Sanyo shares, is reported to be unhappy with the price offered and the structure of the deal.

Without Goldman's involvement, any bid by Panasonic would leave the potential takeover at the mercy of general shareholders.

However, market analysts, aware that Panasonic has £6.5bn in cash and cash equivalents available, feel that the company is unlikely to abandon its bid.
26 November 2008


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