Foxconn are looking to buy Sharp, there are also other interested buyers in the company which includes a government takeover.
Sharp has now revealed that they are leaning towards the deal with Foxconn, the company is well known for building Apple’s iPhones and iPads.
Sharps displays are used in Apple’s devices so it would make sense for Foxconn to buy the company out, the government backed backed investment fund INCJ is also looking to buy sharp.
Foxconn has apparently offered considerably more for the company than the INCJ, Foxconn has offered 600 billion Yen, which is about $5 billion, this is double the bid that the government backed investment fund has made for the company.
The company will now spend the next month deciding which of the two deals to go for, although it looks like Foxconn could end up being the buyer.
“We are putting more resources on studying the Hon Hai offer,” Mr. Takahashi said. “We are considering the offers from the point of view of all of Sharp’s stakeholders, its employees and shareholders.”Filed Under: Top News