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6752 - Panasonic News Story

¥1269 -2.0  -0.2%

Last Trade - 07/05/21

Sector
Technology
Size
Large Cap
Market Cap £19.55bn
Enterprise Value £21.51bn
Revenue £43.63bn
Position in Universe 51st / 3904

BREAKINGVIEWS-Panasonic turning dial too far on $6.5 bln deal

Wed 10th March, 2021 2:56am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Katrina Hamlin HONG KONG, March 10 (Reuters Breakingviews) - After paring some sprawl, the electronics giant may now buy the rest of supply-chain software developer Blue Yonder. The faster-growing tech would help lift profitability, but at a hefty price of 40 times forecast EBITDA. Some $2 bln of erased market value speaks to the overload. Full view will be published shortly. CONTEXT NEWS - Panasonic will buy the 80% of U.S. supply-chain software firm Blue Yonder it does not already own in a deal worth 700 billion yen ($6.5 billion), the Nikkei reported on March 8. - The Japanese electronics conglomerate, which bought a 20% stake in Blue Yonder in May 2020, is in the final stages of acquiring the rest from shareholders including buyout firm Blackstone, the Nikkei said, without saying where it obtained the information. - The initial 20% investment valued Blue Yonder at an enterprise value of $5.5 billion, according to a statement at the time. - Panasonic shares fell 6.6% to 1329.5 yen on March 9. - For previous columns by the author, Reuters customers can click on HAMLIN/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS: http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Panasonic to buy Blue Yonder for $6.5 bln in biggest deal since 2011 – Nikkei urn:newsml:reuters.com:*:nL1N2L60HN BREAKINGVIEWS-New Panasonic engineers leaner, meaner machine urn:newsml:reuters.com:*:nL4N2K90FR BREAKINGVIEWS-Panasonic pushes limits of rewiring circuitry urn:newsml:reuters.com:*:nL4N2I22V1 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Jeffrey Goldfarb and Sharon Lam) ((katrina.hamlin@thomsonreuters.com; Reuters Messaging: katrina.hamlin.thomsonreuters.com@reuters.net))
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