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SoftBank to help Foxconn boost bid for Sharp - report
2016-02-14 14:24:00| Telecompaper Headlines
(Telecompaper) Taiwan-based Hon Hai Precision Industry, the holding company of Foxconn, has invited SoftBank Group to join its bid to acquire Sharp, Nikkei reports. Foxconn thus hopes to close the deal by bringing in a Japanese partner and a major buyer of the manufacturer's mainstay smartphones. According to the same source, Foxconn plans to hold a controlling interest in Sharp, which SoftBank would take 10-20 percent stake in Sharp.
Sharp confirms talks with Foxconn, Innovation Network
2016-02-04 09:11:00| Telecompaper Headlines
(Telecompaper) Sharp has confirmed talks with Hon Hai Precision Industry and Innovation Network Corp of Japan on a possible investment in its LCD panel business. The companies are in negotiations, and Sharp said it aims to pick a definitive partner in around a month. According to the latest media reports, Hon Hai, the owner of Foxconn, has offered the most to Sharp, with a capital injection that would give it around two-thirds of Sharp's shares. However, the Japanese state is pushing its own vehicle, the Innovation Network Corp, which has invested in other Japanese tech companies in an effort to maintain the local industry. The announcement cam alongside Sharp's latest quarterly results, showing revenues down 13.0 percent year-on-year to JPY 663 billion. The net loss for the three months to December doubled to JPY 24.7 billion from JPY 11.9 billion a year ago, and the operating result was a loss of JPY 3.8 billion versus a profit of JPY 22.0 billion a year earlier.
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Foxconn attempts to diversify, offers $5.3 billion for Sharp
2016-01-25 18:52:18| Extremetech
Foxconn, the Taiwanese company that manufacturers the vast majority of the worlds iPhones, have bid roughly $5.3 billion to buy Sharp, the struggling pioneer of LCD technology,
Tags: offers
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Foxconn offers to buy Japan's Sharp
2016-01-21 09:20:17| BBC News | Business | UK Edition
Taiwan's Foxconn Technology Group has offered more than $5bn to take over troubled Japanese electronics firm Sharp
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foxconn
Foxconn offers JPY 625 bln for Sharp - report
2016-01-21 08:36:00| Telecompaper Headlines
(Telecompaper) Foxconn has offered about JPY 625 billion (USD 5.3 billion) to take over Sharp, people familiar with the matter told the Wall Street Journal. Sharp is set to review a competing offer from Innovation Network Corp of Japan, a government-backed investment fund. An unnamed source told the paper that the fund was weighing a bid of around JPY 300 billion; this figure was earlier reported by the Nikkei newspaper. Japanese officials have expressed concern about letting Sharp come under foreign control due the company's key technology in display panels. Innovation Network already owns a controlling stake in Japan Display, another major display maker. Foxconn is offering more money for Sharp and a willingness to shoulder all of its debt, people familiar with the offer said. Those conditions are meant to persuade Sharp's creditors to make a decision based on the economics of the deal, rather than political considerations, according to the report.
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