Suntech Power to acquire Japan's MSK

Suntech Power, one of the world's largest solar-power companies, agreed to buy MSK of Japan for as much as US$300 million, in the biggest acquisition by a Chinese company of a Japanese firm, the Wall Street Journal reported. The deal involves a two-stage, cash-and-stock transaction, which is expected to be concluded at the end of next year. The Wuxi-based, New York Stock Exchange-listed firm, which makes photovoltaic equipment, is currentkly aggressively expanding overseas. The acquisition will give it access to MSK's sales and marketing platform in a market that Suntech says is difficult for foreign companies to enter.