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Sharp agrees to Foxconn takeover
2016-02-25 09:14:00| Telecompaper Headlines
(Telecompaper) Sharp has agreed to a takeover bid from Taiwan's Hon Hai Precision Industry. Hon Hai, better known as Foxconn, is expected to acquire a majority stake in Sharp by buying JPY 489 billion in new shares issued by the company. In addition, Hon Hai plans to purchase half of the shares held by Sharp's creditors for JPY 100 billion. Sharp chose Foxconn's takeover bid over support from the Innovation Network Corp of Japan, a state-backed fund. Sharp said the offer from Foxconn included a pledge to invest in expanding its LCD business, and the two also have complementary operations. In addition, Foxconn pledged to allow Sharp operational independence, including its brand, unified operations and R&D in Japan, and to maintain employment at the company. In return, Hon Hai will have a majority of seats on Sharp's board. Sharp said the agreement will allow it to realise the goals of its medium-term strategic plan, including necessary capital expenditure for growing its business and paying off debt.
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Sharp accepts Foxconn takeover bid
2016-02-25 06:46:43| BBC News | Business | UK Edition
Struggling Japanese electronics giant Sharp says it has accepted a multi-billion dollar takeover bid from Taiwan's Foxconn.
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Sharp shares up on takeover reports
2016-02-25 04:34:13| BBC News | Business | UK Edition
Reports that Sharp has accepted a takeover offer from Taiwan's Foxconn sends shares in the struggling Japanese firm up more than 4.5%.
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Vivendi makes takeover bid for Gameloft
2016-02-18 20:43:00| Telecompaper Headlines
(Telecompaper) Vivendi has announced a takeover bid for Gameloft, after building up a 30 percent stake in mobile games publisher. The offer of EUR 6 per share represents a premium of 50 percent on Gameloft's share price 14 October 2015, the day prior to Vivendi first disclosing a stake in the company and a premium of 23 percent over the weighted average share price over the past six months. Vivendi said the acquisition of Gameloft supports its strategy to expand in the content and media sectors. The bid is expected to face opposition from the Guillemot family, which founded Gameloft and is its second-largest shareholder. The family has been increasing its stake since Vivendi started acquiring shares last autumn.
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Our Top 2016 Takeover Target Acquired; Is Fresh Market Next?
2016-02-17 09:13:05| IT Services - Topix.net
ITC Holdings, our highest-conviction takeover target for 2016, was acquired by Fortis in a cash-and-stock deal valued at $11.3 billion. Multiple bidders in The Fresh Market auction bodes well for a takeover.
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