Wednesday, November 26, 2008

Matsushita to buy Sanyo change Goldman Sachs Group unilateral withdrawal from the negotiations

Matsushita to buy Sanyo's case came to the latest news, according to foreign reports, Sanyo is currently the major shareholder Goldman Sachs Group recently announced unilateral withdrawal from the Matsushita Electric Industrial Co. Ltd. and the sale of the shares of negotiations, mainly due to the "Panasonic 120 yen per share bid had Low, "Goldman Sachs that" at least 250 yen per share. "

Matsushita to buy Sanyo's case came to the latest news, according to foreign reports, Sanyo is currently the major shareholder Goldman Sachs Group recently announced unilateral withdrawal from the Matsushita Electric Industrial Co. Ltd. and the sale of the shares of negotiations, mainly due to the "Panasonic 120 yen per share offer is too low," Goldman Sachs that "at least 250 yen per share."

The two sides of the transaction on the program failed to reach any consensus, that Goldman Sachs, according to Panasonic's program trading, Matsushita will receive most of the new company's shares, while Sanyo only be a small number of shares.

However, Goldman Sachs did not completely shut the door to negotiations, "followed by Panasonic will have to see the attitude," suggesting it is still possible to restart negotiations.

It is reported that Matsushita to buy stake in Sanyo, Sanyo and mainly through the Sumitomo Bank, Daiwa Securities, Goldman Sachs of the United States, and other major shareholders to negotiate, Goldman Sachs, Sumitomo Mitsui Banking Corporation and Daiwa Securities have three major shareholder preferred Sanyo 430,000,000 shares, representing about Sanyo shares as of 7. 10 per share convertible preferred shares of common stock.

Matsushita, "not published opinion"

Panasonic yesterday were told this reporter back to say, the news is that Goldman Sachs issued a unilateral, Panasonic has for the time being not to publish any opinion, there is no updated information for publication. Media reports pointed out that despite the suspension of negotiations Goldman Sachs, but still be able to Panasonic with Daiwa Securities and Sumitomo Mitsui Banking Corporation reached an agreement to promote trade. Goldman Sachs removed the shares, Panasonic Sanyo bought only 40% of the shares, the transaction will be completed by the public shareholders can vote.

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