Panasonic became the proud owner of a majority of Sanyo stock today at the cost of approximately 4.6 billion for 50.2 percent of Sanyo's stock.
Panasonic is now further established as one of the world's largest electronics makers while making Sanyo a subsidiary of the electronics giant. The deal will also give Panasonic free reign on Sanyo's products, including batteries, solar products, and electronics similar to Panasonic's own existing line.
The acquisition of Sanyo was announced nearly a year ago, but since then, international discussion over the legality of the sale was reviewed.
Panasonic made an offer for Sanyo Electric's stock early last month for about 4.5 billion, according to the then currency rates.
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