AfterDawn: Tech news

Foxconn offers to buy struggling tech co. Sharp

Written by Andre Yoskowitz (Google+) @ 21 Jan 2016 22:32

Foxconn offers to buy struggling tech co. Sharp Taiwanese manufacturing giant Foxconn has offered to purchase struggling electronics maker Sharp for 625 billion ($5.3 billion), handily outbidding a rival investment fund.
Sharp had previously received an offer from the Japanese government-backed Innovation Network Corp of Japan for about half of the current offer from Foxconn, but there may be other provisions we don't know about yet.

In addition, there are concerns about letting Sharp go under foreign control, and INCJ already owns most of Japan Display, a rival display maker.

"Japan's technology is leading the rest of the world and we would like to help make it even more competitive," industry minister Motoo Hayashi said earlier this week in promoting the INCJ deal.

Other industry watchers beleive that Foxconn's offer is so large that Sharp cannot say no. The company owes 510 billion to debtors this year, alone, and even more moving forward. Foxconn is willing to face the debt.

Source:
WSJ

Previous Next  
Comments have been disabled for this article.

Latest news

Intel announces: First commercial 5G modem in development Intel announces: First commercial 5G modem in development (20 Nov 2017 16:46)
The world's second largest semiconductor manufacturer, Intel, has announced a major project in mobile chips. The company has introduced a future portfolio for commercial 5G modems. According ....
1 user comment
CCleaner becomes adware, here's how to avoid Avast ads CCleaner becomes adware, here's how to avoid Avast ads (20 Nov 2017 13:00)
One of the more popular Windows cleanup tools, CCleaner, has added Avast ads on to their software. After being acquired by Avast, CCleaner wants you to install the virus protection suite along ....
2 user comments
Tesla's power pack charges your phone like a Supercharger Tesla's power pack charges your phone like a Supercharger (18 Nov 2017 13:25)
Tesla announced yesterday two incredible products that are due in two or three years. However, you might not have the money, nor the interest, to buy either Tesla Semi or Roadster, but there ....
Apple's newest product misses the entire holiday season, hits the stores in early 2018 Apple's newest product misses the entire holiday season, hits the stores in early 2018 (18 Nov 2017 12:20)
Apple has decided to push back one of the products originally revealed nearly 6 months ago in WWDC. The smart speaker, dubbed HomePod, has been delayed further and won't be seen in stores this ....
1 user comment
Tesla unveils two new vehicles, electric semi and super-fast new Roadster Tesla unveils two new vehicles, electric semi and super-fast new Roadster (17 Nov 2017 10:53)
Tesla has today announced two new vehicle prototypes that will bring the total number of Tesla cars, and now trucks, to six. As expected Tesla unveiled their "beastly" semi-truck the first time ....
1 user comment

News archive