Foxconn Makes $5.4 Billion Offer to Buy Trouble Electronics Maker Sharp

Foxconn Makes $5.4 Billion Offer to Buy Trouble Electronics Maker Sharp

The Wall Street Journal. reports Apple assembly partner Foxconn has made a ¥625 billion (around $5.3 billion) offer to acquire troubled Japanese electronics manufacturer Sharp.

foxconn-sharp_logos

Foxconn is not the only suitor for Sharp, as the report notes another offer, from the Innovation Network Corporation of Japan (INCJ), possibly in the range of $2.5 billion (¥300 billion), has been made. INCJ already has controlling shares in Japan Display, a joint 2012 venture by Hitachi, Sony, and Toshiba.

Sharp experienced a net loss of nearly $1.9 billion in the fiscal year that ended in March 2015. The company is attractive to suitors partially due to its contract with Apple to supply LCD displays for its current lineup of iPhones. The company also manufactures televisions, audio equipment, home appliances, and other related products.

Foxconn is reportedly set to take on all of Sharp’s debt in a bid to persuade the Japanese firm’s creditors to accept its bid for the company. Sharp is due to pay around $4.3 billion to its creditors before a March deadline.

Foxconn’s exact plans for Sharp are not known at this time. As a side note, Foxconn chairman Terry Gou acquired a 38% personal stake in a Sharp display factory located in Sakai, Japan back in 2012.

  1. 598603 331447Wonderful post, I conceive web site owners really should learn a lot from this internet weblog its rattling user genial . 749965

  2. tipuri says:

    898360 884694Hi, you used to write superb posts, but the last several posts have been kinda boring I miss your great posts. Past couple of posts are just a bit bit out of track! 830026

  3. 831548 602822Im not certain why but this weblog is loading extremely slow for me. Is anyone else having this problem or is it a difficulty on my end? Ill check back later and see if the dilemma still exists. 843486

  4. phygital says:

    289062 308434a lot of thanks for telling!. Truth is generally the top vindication against slander. by Abraham Lincoln.. 719387

  5. 716125 936150Just what I was searching for, appreciate it for posting . 459951

  6. 568466 585542Howdy! Would you mind if I share your weblog with my twitter group? Theres plenty of individuals that I think would actually enjoy your content material. Please let me know. Thanks 387217

  7. 163255 718134of course data entry services are really expensive that is why always make a backup of your files 105015

  8. 171221 671022Hello Guru, what entice you to post an article. This article was very fascinating, particularly since I was searching for thoughts on this subject last Thursday. 988533

Leave a Reply

Your email address will not be published.