The parent of Hon Hai Precision Industry Co. is paying 389 billion yen ($3.5 billion) for a controlling stake in Sharp, a drop of 100 billion yen from an agreement forged a month ago. As a result, Foxconn and its affiliates will get 66 percent of the Japanese company for 88 yen per share, both companies said in statements on Wednesday.Full details at Bloomberg.
“Finally, it’s decided,” said Hideki Yasuda, an analyst at Ace Research Institute in Tokyo. “This is positive for Sharp, although it’s hard to imagine that Foxconn won’t have to keep providing funds.”
Foxconn reduces Sharp buyout bid to $3.5 billion
Posted on Wednesday, Mar 30 2016 @ 13:40 CEST by Thomas De Maesschalck