[mvarbb] FYI: Kenwood to merge with JVC next year

[w8lly at sbcglobal.net]

-----Original Message-----
From: dial-bounces at mailman.qth.net [mailto:dial-bounces at mailman.qth.net] On
Behalf Of Rick Slone
Sent: Monday, June 25, 2007 4:29 PM
To: dial at mailman.qth.net
Subject: [Dial] Kenwood to merge with JVC next year 

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From: Dial Radio Club email list
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Hello All,
This was posted on the ARRL website this afternoon.

Rick AF8T

Kenwood to merge with JVC next year (Jun 25, 2007) -- This Week in Consumer
Electronics (TWICE) reports that Kenwood has agreed to merge in 2008 with
Victor Company of Japan (JVC) under a holding company.  JVC is owned by
Matsushita Electric Industrial Company.  Japan's Nikkei business newspaper
reports that the final details should be worked out by the end of the month,
and that under the plan, Kenwood will buy 20 billion yen ($161,469,466) in
JVC shares as early as this summer, raising its stake to 13 percent.
Matsushita will also sell part of its 52.7 percent of JVC to Kenwood's top
shareholder, the Sparx Group.  When JVC and Kenwood integrate operations
under the holding company in 2008, Matsushita will sell the rest of its JVC
shares to the holding company to complete the transaction. The holding
company's stock will be listed instead of Kenwood and JVC, according to
Nikkei. Combined, Kenwood's and JVC's sales are $7.3 billion dollars
annually for their fiscal year that ended March 31.
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