According to a Nikkei Net article, Panasonic Corp. has agreed in principle to buy Sanyo Electric Co. in a deal that would create Japan's largest electronics company. Panasonic plans to purchase a majority stake in Sanyo and convert it into a subsidiary by next April under an agreement reached by Panasonic President Fumio Ohtsubo and Sanyo President, Seiichiro Sano. The two companies are to planning to hold board meetings as early as Friday, and a news conference will be held that day. (source: dailytech.com)
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