Panasonic and Sanyo Engage in Acquisition Talks

Electronics giants Panasonic and Sanyo Electric have begun engaging in preliminary acquisition talks. According to an unnamed Panasonic official, the company is already in talks with Goldman Sachs, Daiwa Securities SMBC and Sumimoto Mitsui Banking about buying up a controlling stake in its smaller rival. The talks are in the preliminary stages, so price is not yet on the table. That same official does say they expect Panasonic to issue a formal acquisition proposal soon.