Panasonic, Sanyo Begin Talking Merger

Panasonic(PC Quote) and Sanyo Electric have agreed to begin discussions for a capital and business alliance.

In a joint statement Friday, the Japanese companies said they plan to begin "pursuing synergies between both companies and further strengthening initiatives to achieve potential revenue and profit growth through this alliance."

Reports earlier this week said Panasonic, the world's largest maker of plasma televisions, was in negotiations with Sanyo's top shareholders including Goldman Sachs(GS Quote), Daiwa Securities , and Sumitomo Mitsui Banking about buying their shares to take control of Sanyo, the world's largest maker of rechargeable batteries. ...