Panasonic, Fujitsu Join Semiconductor Units To Stay Afloat

Law360, Los Angeles (February 7, 2013, 10:55 PM EST) -- In an attempt to stay competitive in a sinking market, Panasonic Corp. and Fujitsu Semiconductor Ltd. have agreed to consolidate their system large-scale integration semiconductor businesses into a new company, the electronics giants announced Thursday.

The new company will be launched with capital from third-party investors, Fujitsu and Panasonic said in a statement. They are also discussing investment and finance options with the Development Bank of Japan, they said.

Morrison & Foerster LLP, the firm advising Fujitsu on the deal, said in a statement that the...
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