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WASHINGTON (Kyodo) The U.S. Federal Trade Commission said Tuesday it has conditionally approved Panasonic Corp.’s plan to buy Sanyo Electric Co., clearing the last hurdle for Sanyo to become a Panasonic subsidiary.

The two companies agreed to sell part of Sanyo’s portable nickel metal hydride battery business to FDK Corp., a Fujitsu Ltd. subsidiary, and this will preserve competition after Panasonic’s proposed $9 billion acquisition of Sanyo, the FTC said.

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