Foxconn announced it’s buying Sharp on Wednesday for US$3.5 billion, ending speculation surrounding whether the deal would come through. Foxconn originally offered over $5 billion for Sharp, and the buyout looked like it might fall apart for a while thanks to surprise Sharp liabilities.
The boards from both companies approved the buyout on Wednesday, according to the Wall Street Journal. Foxconn will own 66 percent of Sharp once the deal is complete, and that can grow to 72 percent starting in July 2017 when…
Foxconn Buys Sharp in $3.5B Deal
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