Tomas Chlebek At the end of February the acquisition was almost complete Sharp held up by Foxconn due to new documents provided by Sharp. Today, the store finally closed.
While Foxconn's offer last month set at 700 billion Japanese yen (152,6 billion crowns) for a dominant stake in Sharp, today the two companies signed an agreement to pay 389 billion Japanese yen (82,9 billion crowns) for a 66% stake.
The documents that Sharp provided just before the conclusion of the original contract probably had a significant influence on this change, as they showed other economic problems of the Japanese display manufacturer.
Foxconn was interested in buying Sharp because of its display technologies and experience in their research and development. The biggest customer of Foxconn, a supplier of components and a manufacturer of final products, is Apple, for which displays are a very important component.
"I am excited about the prospects of this strategic alliance and look forward to working with everyone at Sharp," said Terry Gou, Foxconn's CEO and founder, who tried to (unsuccessfully) invest in the Japanese company back in 2010, about the successfully concluded acquisition. , that we can unlock the true potential of Sharp and together we will achieve high goals."
This is also a very important deal from the point of view of the Japanese technology industry, the closure of which to the outside world could be affected by the purchase of one of the largest companies by foreign companies.
We're in more detail on other aspects of Foxconn's acquisition of Sharp they wrote a month ago.
