Foxconn acquires Sharp in deal worth $6.2 billion

Just over a month after there were reports that Foxconn is in talks to acquire Sharp, the deal has been sealed for a total of JPY 700 billion ($6.2 billion), according to Japanese financial newspaper Nikkei. Foxconn was earlier said to have made a $5.1 billion bid.

It's worth mentioning that the Taiwan-based iPhone manufacturer, which was formally known as Hon Hai Precision Industry, was not the only bidder for Sharp - the Innovation Network Corporation of Japan was also in the race.

The state-controlled fund, which was said to be interested in keeping Sharp ownership inside Japan, reportedly offered the Japanese company a JPY 300 billion injection as well as a JPY 200 billion credit line.

No other details related to the deal, which is yet to be officially announced, were revealed.

Via