Foxconn Acquires Sharp In Deal Worth $6.2 Billion

By 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.




Related Article



Please LOGIN or REGISTER To Gain Full Access To This Article