FTC Clears Panasonic's $9B Acquisition Of Sanyo

By Elaine Meyer

Law360, New York (November 24, 2009, 5:46 PM ET) -- The Federal Trade Commission on Tuesday approved Panasonic Corp.'s $9 billion acquisition of Sanyo Electronic Co. Ltd., under the condition that the companies sell assets in Sanyo's portable nickel metal hydride battery business to allay antitrust concerns.

Under a proposed consent order by the FTC Bureau of Competition, the two companies agreed to sell the NiMH battery assets to FDK Corp., a subsidiary of Fujitsu Ltd.

Sanyo already agreed to sell parts of its battery-making businesses to FDK for about 6.4 billion yen ($70.5 million) on...
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