TOKYO (Reuters) - Goldman Sachs said on Thursday it has rejected an offer from Panasonic Corp <6752.T> to buy its shares in Sanyo Electric Co Ltd <6764.T> because it believes the offer price is too low.
Panasonic has raised its offer by 10 yen to 130 yen for each share in Sanyo, a source familiar with the matter told Reuters.
Goldman said in an e-mailed statement that it did not believe the process and the price offered by Panasonic was fair for all Sanyo shareholders.
(Reporting by Taiga Uranaka)
