Business Services Industry
Matsushita to Absorb Wholly-Owned Subsidiary
Business Wire, Feb 4, 2005
OSAKA, Japan -- Matsushita Electric Industrial Co., Ltd. (MEI (NYSE symbol: MC)), best known for its "Panasonic" brand, today announced that the company will absorb Matsushita Industrial Information Equipment Co., Ltd. (MIIE), as announced in the November 29, 2004 press release "Reorganization and Consolidation of Industrial Equipment Business." The merger is expected to take effect on April 1, 2005, at which point MIIE will be merged into MEI.
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Details of the merger are outlined below.
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