Panasonic will acquire rival Japanese electronics maker Sanyo for up to 800 billion yen ($9 billion) through a public tender offer after top shareholders, including Goldman Sachs, agreed to the takeover, the companies said Friday. The deal would create one of the world's biggest electronics companies and allow Panasonic Corp. to add Sanyo Electric Co.'s strengths in green energy - solar panels and rechargeable batteries - to its sprawling product lineup. Panasonic, which makes Viera TVs and Diga Blu-ray disc players, said last month it was interested in acquiring Sanyo. Sanyo, which has been struggling to turn around its business, also expressed interest in the alliance. Kazumasa Kubota, analyst with Okasan Securities Co. in Tokyo, said Panasonic was getting a good deal at the tender price of 131 yen ($1.47) a share. The acquisition should be a plus for Panasonic in the long run, but shedding overlapping businesses will add to short-term costs, he said. “The synergies are there in the long run,” Kubota said.
