Foxconn acquires Sharp in deal worth $6.2 billion
Just over a month after there were reports
that Foxconn is in talks to acquire Sharp, the deal has been sealed for
a total of JPY 700 billion ($6.2 billion), according to Japanese
financial newspaper Nikkei. Foxconn was earlier said to have made a $5.1
billion bid.
It's worth mentioning that the Taiwan-based iPhone manufacturer,
which was formally known as Hon Hai Precision Industry, was not the only
bidder for Sharp - the Innovation Network Corporation of Japan was also
in the race.
The state-controlled fund, which was said to be interested in keeping Sharp ownership inside Japan, reportedly offered the Japanese company a JPY 300 billion injection as well as a JPY 200 billion credit line.
No other details related to the deal, which is yet to be officially announced, were revealed.
The state-controlled fund, which was said to be interested in keeping Sharp ownership inside Japan, reportedly offered the Japanese company a JPY 300 billion injection as well as a JPY 200 billion credit line.
No other details related to the deal, which is yet to be officially announced, were revealed.
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