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3/9, 7:24 AM (Source: TeleTrader)
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Panasonic drops over 6% on Blue Yonder acquisition reports

Panasonic Corporation's shares dipped more than 6% on Tuesday after Japanese media reported the tech company is set to buy US software and consultancy company Blue Yonder.

The deal is expected to be worth around $6.5 billion as the two companies reached the final phase of the negotiations. If Panasonic seals the deal with Blue Yonder, the Japanese firm would mark its largest acquisition since 2011.

Panasonic stocks plunged 6.64% at the closing bell on the Tokyo Stock Exchange, trading at ¥1,329.50 per share at 7:00 am CET.

Breaking the News / GA