Thursday, February 25, 2016

Foxconn Buys Sharp For $6.2 Billion

Sharp has reportedly agreed to be acquired by Foxconn for $6.2 billion. Sharp also was supposedly being looked at by government run fund Innovation Network Corp. of Japan. The fund was rumored to have put together a $2.5 billion bid for Sharp that would have added a $2.67 billion cash infusion, and a $1.78 billion line of credit.

Sharp manufactures Apple’s iPhone displays, Sharp's purchase by Foxconn would give the manufacturer access to parts it needs to have in stock while manufacturing the Apple iPhone.

Source: Nikkei

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