According to the report, Panasonic will gain by adding Sanyo’s expertise in solar panels and rechargeable batteries to its portfolio but shedding overlapping businesses, such as manufacture of digital cameras and consumer electronics products, will add to short-term costs.

December 20, 2008: Panasonic will acquire Sanyo for up to US$9 billion through a public tender offer after top shareholders approved of the take-over, according to a report published in The New York Times overnight.

The deal will create one of the world’s largest electronics companies. According to the report, Panasonic will gain by adding Sanyo’s expertise in solar panels and rechargeable batteries to its portfolio but shedding overlapping businesses, such as manufacture of digital cameras and consumer electronics products, will add to short-term costs. The move could affect Nikon’s Coolpix camera line and some Olympus cameras. More than 90% of Sanyo’s cameras are made on an OEM basis, the majority going to Nikon and Olympus. Olympus also distributes some Sanyo medical imaging equipment.