Foxconn places USD5.2b offer to acquire Sharp| MENAFN.COM

Wednesday, 07 December 2022 03:09 GMT

Foxconn places USD5.2b offer to acquire Sharp

(MENAFN) Foxconn, the Taiwanese multinational electronics contract manufacturing company has reportedly placed a whopping USD5.4 billion bid to purchase the Sharp, the stressed Japanese firm, based on recent reports.

Basically, Sharp may have huge amount of debt and tumbling sales, but it has one thing that the world's largest electronics contractor manufacturer doesn't; and that's display technology used by top tech behemoths like Amazon and Apple.

In particular, the New Taipei-based firm will absorb all of Sharp's considerable debt, plus the huge bid is over double the USD2.6 billion offered by a Japanese investment fund called Innovation Network Corp.

Sharp designs and manufactures electronic products, and it employs 49,096 people worldwide as of March 2015, it was founded in 1912 and takes its name from one of its founder's first inventions, the Ever-Sharp mechanical pencil.

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