Sanyo and Panasonic one step closer to Merger

As reported last week Panasonic wants to take over Sanyo. It looks like the deal is going to happen. Today Sanyo published a statement saying that Panasonic and SANYO have agreed to start discussions for Capital and Business Alliance.
This means the Sanyo board has decided to further explore being aquired by Panasonic.Panasonic and SANYO will start discussions, with the aim of maximizing both companies’ corporate values by pursuing synergies between both companies and further strengthening initiatives to achieve potential revenue and profit growth through this alliance.
More details on the Sanyo site.

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