According to recent reports by The Wall Street Journal the Taiwanese manufacturer Foxconn is looking to acquire Sharp.

According to the site, Foxconn has already put in a 625 billion yen bid, which is around £3.8 billion, as well as absorbing all of Sharp’s considerable debt, with a bid that is said to include an imminent 510 billion yen repayment on borrowings.

This deal would allow Foxconn to consolidate all of the services it offers companies, allowing businesses like Apple to not only use Foxconn for the build manufacturing but also the manufacturing of the display.

Japanese officials are worried about letting Sharp go to a foreign business, but it is likely that Foxconn might complete this deal, given that Foxconn’s chairman, Terry Gou already owns a 38 percent stake in the Sharp display factory in Sakai, Japan.

This comes after Sharp has been set back over recent years, pulling out of the TV market in the US and licensing its brand name to Hisense for use in the region, this deal could be the one to save the company.

Source: WSJ

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