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Sharp offered $5.3 billion by iPhone assembler, Foxconn

 


Its no news that Japanese company, SHARP, has been facing hard times of late, haven being bailed out repeatedly by banks. Sharp a well known brand , famed for making high quality display, has been made an offer by iPhones biggest assembler, Foxconn. Foxconn, is a Taiwanese company that assembles the bulk of iPhones, has offered about ¥625 billion ($5.3 billion) to take over troubled Japanese electronics maker Sharp Corp., according to news report by Wall Street Journal.

This new offer received by Sharp, is double that earlier offered by Japanese investment fund Innovation Network Corp, which put forth a $2.6 billion offer. Foxconn has also agreed to retain Sharp’s management structure and pay off its debts, if the company agrees to the deal. Although, news reports indicates that the Japanese government does not want the company to be sold to an outside investor.


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In the mean time, news of the deal going through wont be reaching us, as Sharp has stated that they will think over the deal and provide a response in the second quarter of the year.

Source: WSJ

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Ifeanyi Joseph

Ifeanyi Okondu is a creative writer, Java programmer, and football fan with a profound interest in technology. He spends most of his time reading, discussing, and writing about technology and how man’s brainchild is shaping the world. When he is not crafting engaging content, you may find him either watching YouTube videos, a football match, reading or exercising. You can connect with him on Facebook @ fb.com/okondu.

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