Panasonic Pays $800M To Bring Stake In Blue Yonder To 20%
Law360 (May 20, 2020, 3:34 PM EDT) -- Japanese electronics giant Panasonic said Wednesday that it made an $800 million share purchase in Blue Yonder, giving Panasonic a 20% minority stake in the supply chain solutions company and a seat on its board of directors.
The deal values Blue Yonder at $5.5 billion, including debt. Panasonic Corp. bought the shares from a Fried Frank Harris Shriver & Jacobson LLP-advised New Mountain Capital LLC, which will remain a majority shareholder, along with Blackstone Group Inc. A Panasonic spokesman confirmed the $800 million purchase price to Law360 late Thursday.
The secondary share investment further cements Panasonic and Blue Yonder's business partnership,...
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