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Foxconn acquires Sharp in deal worth $6.2 billion

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Himanshu 25 February, 2016

Sharp Foxconn

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.

Via

Reader comments

?
  • Anonymous
  • 4DP
  • 30 May 2016

sooooo....this is a picture of a HOSPITAL.WTF??

  • Reply
M
  • MasEnha
  • 9xx
  • 04 Mar 2016

Please tell me that it's a big joke, right? April mop still long ahead though.

  • Reply
D
  • AnonD-442781
  • 3xh
  • 25 Feb 2016

Something came up and its been postponed for now. It brought doubt into whether or not it'll happen at all.

  • Reply
  • Read all comments
  • Post your comment
Total reader comments: 14

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