Many knew that it would happen, but it was on late Friday when Panasonic confirmed that it was quite near to buyout rival Sanyo.
Nothing has been decided yet, but the two companies have to act to set of mounting speculation after rumors that began last weekend.
The two companies are in talks about making Sanyo a subsidiary of Panasonic and it would involve the larger company (Panasonic) to purchase the smaller company’s shares.
These two existing enterprises have sales of around £72 billion together and if it were for a single firm, these figures might represent one of the largest electronic companies in the world.
A joint statement from these two companies explained the thinking behind that move: “We are going to create a global competitive foundation, as we are going to share both companies’ management and business resources while collaborating with each other.”
The mood inside Sanyo seemed quite positive, as one employee told: “We are not worries about the future, as we know that Sanyo is a strong brand and it’s not going away.”
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