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Panasonic agrees to controlling stake in Sanyo, seen issuing hearty backslaps to executives

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Ah here we go, a major acquisition following a quarter of disturbingly bleak financial results from Japan's tech community. First from the chute is Panasonic, which according to Nikkei and other members of the media elite, has reached a preliminary agreement to takeover its troubled domestic rival, Sanyo -- details to be announced on November 7th. The chatter began in ernest over the weekend with plenty of folks blabbing about Panasonic's plan to create a "battery superpower" meant to dominate a future that envisions a taller, more slender mankind tooling about in form-fitting jumpsuits from the safety of silent, electric cars. The deal would also extend Panasonic's range of consumer electronics while giving it access to Sanyo's solar panel production. Yeah, yeah, we get it, now let's just make it official already, k fellas?

[Via Times Online]

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