Panasonic:To Launch Sanyo Tender Offer Thursday, Pay Y131/Share

TOKYO -(Dow Jones)- Panasonic Corp. (6752.TO) said Wednesday it will launch a tender offer Thursday for Sanyo Electric Co. (6764.TO) and pay Y131 a share, in a bid to obtain voting rights of 50% or more in the Osaka-based electronics maker. The Japanese firm said in a statement that the tender offer is expected to take place between Nov. 5 and Dec. 7. It added that the tender offer will be valued at at least Y402.3 billion. In trading on the Tokyo Stock Exchange, Sanyo shares ended down 5.3% at Y216. -By Yuzo Yamaguchi, Dow Jones Newswires, +813 6895 7563; yuzo.yamaguchi@dowjones.com