OSAKA (Kyodo) Panasonic Corp. has successfully completed its tender offer for Sanyo Electric Co. shares, paving the way for turning its smaller rival into a subsidiary this month, sources said Wednesday.
The deal should result in creation of one of the world's largest consumer electronics conglomerates.
By making Sanyo its subsidiary, Panasonic is expected to begin full-scale cooperation with the company on rechargeable batteries and energy operations.