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Goldman Sachs Group Inc. said yesterday it rejected a second offer by Panasonic Corp. to buy Goldman's stake in Sanyo Electric Co. Ltd. Since announcing its intentions to acquire Sanyo last month, Panasonic has been trying to buy stakes from Sanyo's top three shareholders, including Goldman - so far without success. Japanese media reports said Panasonic raised its offer to 130 ($1.80) a share for Sanyo from the earlier 120, still below market price. "We don't believe this process and price is fair for all Sanyo shareholders," Goldman spokeswoman Miyako Takebe said. Goldman, Daiwa Securities Co. Ltd. and Sumitomo Mitsui Banking Corp. together control about 70 per cent of Sanyo's shares. 6764 (Tokyo) fell 21 to 148. 6752 (Tokyo) fell 57 to 1,034.
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via Globe Investor @ 7:18 5th Dec
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Goldman Sachs Group Inc. said yesterday it rejected a second offer by Panasonic Corp. to buy Goldman's stake in Sanyo Electric Co. Ltd. Since announcing its intentions to acquire Sanyo last month, Panasonic has been trying to buy stakes from Sanyo's top three shareholders, including Goldman - so far without success. Japanese media reports said Panasonic raised its offer to 130 ($1.80) a share for Sanyo from the earlier 120, still below market price. "We don't believe this process and price is fair for all Sanyo shareholders," Goldman spokeswoman Miyako Takebe said. Goldman, Daiwa Securities Co. Ltd. and Sumitomo Mitsui Banking Corp. together control about 70 per cent of Sanyo's shares. 6764 (Tokyo) fell 21 to 148. 6752 (Tokyo) fell 57 to 1,034.
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via Report On Business @ 5:57 5th Dec
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Goldman Sachs said Thursday it rejected a second offer by Panasonic to buy Goldman’s stake in Sanyo, showing that Panasonic is having a tough time taking over Sanyo Electric Co to create an electronics giant.
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via Japan Today @ 22:11 4th Dec
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Goldman Sachs has agreed to a slightly sweetened Panasonic offer to buy its stake in Sanyo Electric, clearing the way for a deal estimated to be worth at least $6.5bn, reports Reuters. Sanyo shares fell 4% to Y137 on news that a deal had been reached below the company’s current share price. The move by Goldman, which had rejected Panasonic’s earlier lower offers, came after the bank reported its first quarterly loss since going public and Panasonic and rival consumer electronics makers were hit by a sales slump.
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via FT Alphaville @ 4:00 18th Dec
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TOKYO - Goldman Sachs said Thursday it rejected a second offer by Panasonic to buy Goldman's stake in Sanyo, showing that Panasonic is having a tough time taking over Sanyo Electric Co. to create an electronics giant.
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via Yahoo! Canada @ 11:26 4th Dec
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TOKYO - Goldman Sachs said Thursday it rejected a second offer by Panasonic to buy Goldman's stake in Sanyo, showing that Panasonic is having a tough time taking over Sanyo Electric Co. to create an electronics giant.
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via Canadian Business Magazine @ 10:45 4th Dec
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STANDING between Panasonic Corp and its objective, Sanyo Electric, Goldman Sachs is in a position it once would have relished: the merger makes strategic sense and Goldman's argument that the price offered is inadequate also has a lot going for it.
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via The Australian @ 13:11 12th Dec
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Goldman Sachs has agreed to a slightly sweetened Panasonic Corp offer to buy its stake in Sanyo Electric Co, three financial sources close to the situation said, clearing the way for a deal worth at least $6.5 billion.
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via Budapest Business Journal @ 8:37 18th Dec
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GOLDMAN Sachs yesterday rejected a sweetened offer from Panasonic Corp for its 29 per cent stake in Sanyo Electric Co, leaving a planned merger to create Japan's biggest electronics maker in doubt.
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via Brunei Times @ 0:23 6th Dec
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Goldman Sachs on Thursday rejected a sweetened offer from Panasonic Corp. for its 29 percent stake in Sanyo Electric Co., leaving a planned merger to create Japan's biggest electronics maker in doubt.
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via Yahoo! Singapore @ 11:24 4th Dec
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GOLDMAN Sachs today rejected a new offer from Panasonic Corp. for its stake in rival Sanyo Electric Co., part of a planned merger to create Japan’s biggest electronics maker. “We decided not to accept this offer. We don’t believe this process and the price is fair for all Sanyo’s shareholders,” the Wall Street giant said in a statement.
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via Business Day @ 4:23 4th Dec
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