This has been a bad week for Panasonic – after news that it has had to slash profit forecasts for the coming year, it seems to be facing the prospect of losing out on buying Sanyo.
Japanese media are reporting that the problem lies with major Sanyo shareholder Goldman Sachs, which has walked away from talks about the takeover.
No sales here
The holding company is reportedly unhappy at the price Panasonic is offering - ¥120 (81 pence) per Sanyo share instead of the ¥250 (£1.70) it is looking for.
By way of comparison, Sanyo shares were trading at ¥151 (£1.02) each at close in Tokyo on Friday afternoon.
A terse official statement from Goldman simply said, "We're no longer in talks with Panasonic on Sanyo."
Analysts suggest, however, that the hiatus is temporary and that Panasonic will get Sanyo eventually – but that it'll have to put more money on the table to win back Goldman and the others to do so.