Andre Yoskowitz
26 Mar 2016 18:14
After a few delays, Foxconn has agreed to purchase Sharp for $4 billion, with the deal expected next week.
Both companies will hold board meetings early in the week with an expected signing on Wednesday.
Foxconn had initially offered $4.3 billion for the struggling electronics maker but then delayed as it appears they overbid after viewing the financials of Sharp.
The deal is expected to give Foxconn the leg up for mass-producing OLED screens for Apple's upcoming iPhones in 2017 or 2018, a massive deal for hundreds of millions of devices.
Source
Reuters