Goldman Sachs rejects Panasonic’s Sanyo offer

Updated Friday, December 5, 2008 10:39 am TWN, AFP

Goldman Sachs rejects Panasonic’s Sanyo offer

TOKYO -- Goldman Sachs on Thursday rejected a new offer from Panasonic Corp. for its stake in rival Sanyo Electric Co., part of a planned merger to create Japan’s biggest electronics maker. “We decided not to accept this offer. We don’t believe this process and the price is fair for all Sanyo’s shareholders,” the Wall Street giant said in a statement.

It said it was considering its options including whether to exercise its right to buy other Sanyo stakeholders’ shares in the company.

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