Foxconn, also known as Hon Hai Precision Industry, is buying a huge part of Sharp; the Japanese electronics manufacture that has been virtually obsolete for years. Foxconn is a Taiwanese multinational electronics contract manufacturing company headquartered in Tucheng, New Taipei, Republic of China. They work very closely with Apple.
So what is the mobile phone chip company offering? 3.5 Billion. And that’s after reducing their offer by $900 million earlier this month.
According to Terry Gou, CEO of Foxconn, “We have much that we want to achieve and I am confident that we will unlock Sharp’s true potential and together reach great heights.”
Sharp has relayed that it would issue roughly $4.5 billion in new shares, giving Foxconn a two-thirds stake.
Everyone forgets that Foxconn is is a big player in the mobile technology world, and only remembers them for their constant controversy over their mistreatment of employees in China. The fact it has a Wikipedia page entitled Foxconn Suicides does raise some eyebrows doesn’t it?
Are they just pretending to acquire to impress their bread and butter Apple?