Foxconn Commits to Building Wisconsin Factory
Foxconn today said it will build a manufacturing facility in Wisconsin, where it will make LCD panels and employ up to 3,000 people. The company previously announced it might invest up to $10 billion in the U.S. Today's news, shared by the White House, demonstrates Foxconn was serious about the investment. The facility will be approximately 20,000 square feet and may eventually employ up to 13,000. Foxconn, based in Taiwan, is chiefly known for manufacturing iPhones for Apple, though it has other consumer electronics customers. Foxconn said Sharp will be first to use the LCD panels made in Wisconsin for its television sets. Foxconn is weighing similar investments in Illinois, Indiana, and Michigan.
Sharp Accepts Lowered Takeover Bid from Foxconn
Foxconn has agreed to acquire a 66% stake in Sharp for $3.5 billion, said the companies today. The sale price is considerably less than the $5 billion Foxconn offered earlier in the month.
Sharp Leaning Toward Foxconn's $5.5B Bid
Sharp is favoring an acquisition offer from Foxconn over a potential rescue from Japanese investors. Sharp has lost market share in the consumer electronics business over the last few years while prices for its display panels have sunk.
Foxconn to Buy Belkin for $866 Million
Foxconn says it has agreed to acquire Belkin International for $866 million in cash. Foxconn, a unit of Hon Hai Precision, is most widely known for manufacturing iPhones for Apple.
Foxconn Makes a Play for Sharp
Foxconn has offered to buy Sharp for $5.3 billion, reports the Wall Street Journal. Foxconn's offer arrives just as Sharp is weighing a buyout offer from Innovation Network Corporation of Japan.