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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