FTC Approves $9 Billion Merger Of Panasonic, Sanyo
John Eggerton -- Multichannel News, 11/24/2009 8:53:00 AM
The Federal Trade Commission has given its go-ahead to Panasonic's $9 billion purchase of Sanyo.
Both count TV sets among their many products. Sanyo, for example, has essentially become the house brand for retail giant Wal-Mart Stores, according to TWICE editor-in-chief Stephen Smith.
The FTC approval came after the two companies agreed to sell Sanyo's assets in batteries for first responder radios within 15 days, with one 15-day extension allowed. The companies are the two largest manufacturers and sellers of the radios.
With that overlap out of the way, the FTC said there were no other competitive concerns with the meld.
The public will have 30 days to comment on the approval of the consent-decree agreement by the two companies, which was approved by the commission 4-0.
The approval will wind up being a Christmas present of sorts to the consumer electronics companies. The FTC said the public comment period will be up Dec. 25, after which it will make the decision final.
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