Foxconn gains controlling stake in Sharp after lengthy negotiations
by from Techreport on (#18RCY)
Foxconn, a company best known in tech circles for manufacturing Apple's iPhone, has finalized its buyout of Japanese electronics company Sharp. The deal was finally inked after weeks of difficult negotiation, and marks the largest acquisition by a foreign company in Japan's tech industry.
Bloomberg reports the original plan was for Foxconn to buy Sharp for around $4.3 billion. However, after learning of Sharp's financial woes, Foxconn decided to reevaluate the deal. The company ended up paying about $3.5 ...