Foxconn Works to Finalize Sharp Acquisition by End of Month

Feb 6, 2016 — According to a Reuters report, Taiwan’s Foxconn, formerly known as Hon Hai Precision Industry Co., has reached a consensus with Sharp on most points for its acquisition of Sharp.

The report states that Foxconn will invest about ¥659 billion ($5.6 billion) into Sharp, and the deal is expected to close at the end of the month.

A Wall Street Journal reports that Foxconn CEO Terry Gou promised to keep Sharp intact, with hopes of reviving the company.

Read the Reuters story here.

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