Foxconn Acquires Sharp In Deal Worth $6.2 BillionBy cheatmaster 04:13 Sat, 31 Jul 2021 Comments
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 assumed 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 assumed 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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