3 Merger and Acquisitions Stock Stories for Savvy Weekend Investment Reading
Kohlberg Kravis Roberts & Co. (NYSE:KKR): Current price $20.81
It has been confirmed that Panasonic Corp. is divesting its health-care business to KKR & Co. for roughly $1.5 billion Friday, according to two knowledgeable sources. The Japanese electronics firm will sell some 80 percent of Panasonic Healthcare Co. to the private equity firm, and retain 20 percent, said the sources. Panasonic Healthcare, which supplies digital medical record systems and manufactures instruments that measure blood glucose, will be KKR’s largest acquisition in Japan, according to data compiled by Bloomberg. Panasonic is selling control of the division as it centers upon a 250 billion-yen plan to rebound from losses at its electronics business during the next two years.