Panasonic Corp said on Thursday it will take majority control (50.2 percent) of Sanyo Electric Co. in a $4.6 billion (around 21000 crore) deal that would forge one of the biggest electronics makers in the world.
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The world’s biggest plasma TV maker will pay 131 yen per Sanyo share. With the purchase Panasonic can draw upon Sanyo’s expertise in solar panels and rechargeable batteries, bolstering its resources in the race to develope environmental technologies.
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