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OSAKA (Kyodo) Panasonic Corp. said Friday that it will launch a tender of ¥131 per share to acquire around 70.5 percent of smaller rival Sanyo Electric Co. in a deal that will create Japan’s largest electronics maker.

The acquisition of Sanyo, the world’s largest supplier of lithium ion batteries, will help Panasonic beef up its rechargeable battery operations, boost its presence in solar cells and give it the size needed to rival Hitachi Ltd. in terms of sales.

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