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Panasonic: No Decision on Sanyo Purchase

Stock quotes in this article: PC , GS , HIT  

Panasonic(PC Quote), responding to media reports, said it hasn't decided anything with regards to a purchase of Sanyo.

"This announcement was not made by Panasonic, and the company has not decided anything in regards to the purchase," Panasonic said in a statement late Sunday.

Reuters, citing sources, reports Panasonic President Fumio Ohtsubo and Sanyo President Seiichiro Sano met last month and agreed in principle to Sanyo becoming a subsidiary, but that there hasn't been any agreement on other details such as price. ...

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