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Panasonic shares tumble on talk of $6.5bn acquisition bid

Company says 'nothing decided' after reports it is in talks to buy US software maker Blue Yonder

Panasonic is reportedly in talks to buy U.S. supply chain software company Blue Yonder.    © Reuters

TOKYO -- Investors in Tokyo were heavy sellers of shares in Panasonic on Tuesday after Nikkei reported that the industrial and consumer conglomerate was set to buy U.S. supply-chain software firm Blue Yonder in a $6.5 billion deal.

Shares in Panasonic ended the day's trading down 6.4%, their lowest close since Jan. 19, having at one stage been down over 7%. The drop was the biggest among the 225 companies comprising the blue-chip Nikkei Stock Average index.

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