Toshiba announced last Wednesday that they have reached an agreement with Panasonic to buy all of Panasonic's shares in the co-owned LCD and OLED panel production operation called Toshiba Matsushita Display Technology (TMD).

The deal reportedly goes down on April 28, TMD will become a fully controlled and owned by Toshiba thus will change its name to Toshiba Mobile Display.
In a published statement, Toshiba said that taking on Panasonic's position in TMD will allow it to "further accelerate decision-making and promote comprehensive restructuring of TMD's business."

Panasonic recently bought up Sanyo in a landmark consumer electronics deal.
Reportedly the new company direction should to move TMD's focus onto OLEDs sets which are a very future-minded technology that have green implications.