Foxconn intends to acquire the Sharp company for the sum of 5.3 billion dollars, the Taiwanese making this offer to the management of one of the largest suppliers of screens for Apple's iDevices.
Sharp was saved from bankruptcy 2 times in 3 years by the Japanese banks, but it has so many debts that it can no longer keep its factories in operation, and those from Foxconn are willing to buy the company and take over all the debts which she has collected in so many years.
The Japanese government is not a fan of the idea of Sharp being sold to the Taiwanese and has made a purchase offer through the Innovation Network group, majority owned by Japan Display, but this is not as good as the one made by Foxconn.
Basically, the Taiwanese from Foxconn made an extremely advantageous offer for the acquisition of Sharp in the idea of convincing the management to make a decision based only on financial and not political reasons, this management going to remain in office, even if it put Sharp into bankruptcy.
FOXCONN, THE TAIWANESE COMPANY THAT ASSEMBLES THE BULK OF THE WORLD'S IPHONES, HAS OFFERED ABOUT ¥625 BILLION ($5.3 BILLION) TO TAKE OVER TROUBLED JAPANESE ELECTRONICS MAKER SHARP CORP., ACCORDING TO PEOPLE FAMILIAR WITH THE MATTER. SHARP, WHICH HAS BEEN BAILED OUT REPEATEDLY BY BANKS, IS SET TO REVIEW A COMPETING OFFER FROM INNOVATION NETWORK CORP. OF JAPAN, A GOVERNMENT-BACKED INVESTMENT FUND.
Foxconn had the intention to buy a good part of Sharp's shares a few years ago, but this purchase was not completed, so now it is trying to buy the entire company and probably has some good ideas to increase its profitability in the future.
If Foxconn buys Sharp, then it will supply not only assembled iPhones to Apple, but also a part of the screens used in all iDevices, but it remains to be seen if the offer will be accepted by the management of Sharp, albeit a better one does not exist.
