JVC, Kenwood likely to merge
June 26th, 2007
JVC, Kenwood likely to merge
JVC and Kenwood are quite famous for their music systems. It seems like JVC is going to merge with Kenwood under a joint holding company by next year. Under the preliminary integration plan, Kenwood will first buy ¥20 billion yen worth of new JVC shares through a third-party allocation, which is around 13%. Its most likely that by 2008, the two firms will merge their operations.
Currently Matsushita Electric Industrial Co, maker of the Panasonic range of consumer electronics, holds a 52.4% stake in JVC which is worth about ¥52.6 billion ($425 million). woah! thats really a lot. Well lets see how the two companies come up together with their music.
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