Foxconn and Sharp made a deal

Foxconn and Sharp made a deal

Under the deal, state Foxconn, has reportedly agreed to pay 389 billion yen ($ 3.5 billion) for the purchase of 66% shares of the company, although previously offered 489 billion yen ($ 4.39 billion) for the same amount of capital. The decline happened because of some 100 billion yen ($ 898 million) “previously undisclosed liabilities”That Foxconn uznalai after being made an offer.

Taiwanese company Foxconn Electronics and Sharp Corporation of Japan issued a joint statement declaring that both the manufacturer has finally signed an agreement that gives Foxconn controlling stake in Sharp, known as one of the best manufacturers of high-quality displays.

Foxconn and Sharp made a deal

Under the deal, state Foxconn, has reportedly agreed to pay 389 billion yen ($ 3.5 billion) for the purchase of 66% shares of the company, although previously offered 489 billion yen ($ 4.39 billion) for the same amount of capital. The decline happened because of some 100 billion yen ($ 898 million) “previously undisclosed liabilities”That Foxconn uznalai after being made an offer.

Chairman of the Foxconn, Terry Gou, spoke about Sharp Corporation acquisition for several years, and as many companies have not been able to do that. The initial list of potential buyers of the company also means INCJ, which was supported by the federal government by the Japanese, who were unwilling to allow foreign companies to buy back the prestigious company Sharp.

As is known, the Sharp also has a large number of patents and various other intellectual property assets, which, apparently, convinced Foxconn shell out big money for the loss-making business. Well, time will tell whether it was a good investment or Foxconn made a mistake.

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