China's Ministry of Commerce ("MOFCOM") on October 31, 2009 cleared the Panasonic/Sanyo transaction with conditions, concluding a nine-month review period. The Panasonic/Sanyo transaction is the most recent of the five transactions that MOFCOM has cleared with conditions since the Anti-Monopoly Law ("AML") took effect on August 1, 2008. The first four were Inbev/Anheuser-Busch, Mitsubishi Rayon/Lucite, General Motors/Delphi and Pfizer/Wyeth. The Transaction Both Panasonic and Sanyo are Japanese conglomerates with diversified businesses and operations worldwide. Both companies develop, manufacture and sell batteries. Panasonic and Sanyo entered into a binding agreement in December 2008 under which Panasonic would acquire a majority stake in Sanyo through a tender offer for
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The Chinese MOFCOM clears the merger of consumer electronic companies with conditions (Panasonic / Sanyo)
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