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. The two combined have put Sharp in a precarious position; it has already been bailed out once. Innovation Network Corp. of Japan, a government-backed fund, has offered to inject capital into the company to keep it solvent. INCJ's offer, however, is about half that of a $5.5 billion take-over bid from Taiwan's Foxconn. Foxconn is more aggressively pursuing Sharp, says the Wall Street Journal, and is pressing the firm to accept its offer. Foxconn Chairman Terry Gou is traveling to Japan Thursday to meet with Sharp CEO Kozo Takahashi and the company's leadership team. Takahashi said, "The two offers are not equal," and that the company will focus on Foxconn's offer more so than INCJ's. Foxconn is known as one of Apple's primary manufacturing partners.
Aug 16, 2018
Google today updated the way it displays search results in order to surface a more complete picture of search subjects. Rather than simply supply a list of links, Google is introducing new panels with a set of relevant subtopics for additional information.
Jul 26, 2017
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.
Mar 27, 2018
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.
Dec 12, 2018
Samsung says it plans to stop making phones at its manufacturing plant in Tianjin, China. Samsung will close the factory entirely, laying off some 2,600 people by the end of the year.