TOKYO - Goldman Sachs says it has ended negotiations to sell its Sanyo Electric Co. holdings to Panasonic Corp., potentially sinking Panasonic's attempt to buy its smaller electronics rival.
A spokeswoman for the U.S. bank says it could not accept the price or deal structure offered by Japan's Panasonic. Panasonic and Sanyo earlier this month began talks on a buyout deal that could create one of the world's largest electronics companies as soon as year-end.
But Goldman's objections could delay or even sink the buyout.
Sanyo's biggest stakeholders are Goldman, Sumitomo Mitsui Banking Corp. and Daiwa Securities SMBC, which invested 300 billion yen in 2006 to rescue Sanyo.
They have a combined stake of about 70 per cent.
