TOKYO (Reuters) - Japanese electronics maker Panasonic Corp (6752.T) said on Friday it has decided to make an all-cash offer to buy the rest of PanaHome Corp 1924.T worth 92.4 billion yen ($846.9 million), cancelling an earlier stock-swap agreement.
Panasonic already owns 54.18 percent in PanaHome and it offers to pay 1,200 yen per share to acquire the rest of the shares, it said in a statement.
The offer represents a 16.4 percent premium to Friday’s closing price.
Panasonic said last year it had agreed to buy out its subsidiary through an all-stock deal.
($1 = 109.1100 yen)
Reporting by Taiga Uranaka; Editing by Gopakumar Warrier