Foxconn bids for Sharp

Foxconn’s four year pursuit of Sharp may be coming to an end with its $5 billion bid for the Japanese company.

Foxconn bids for Sharp

Back in 2012 Foxconn was discussing taking a 10% share in Sharp in return for $800 million but, as Sharp’s financial position declined and its share price fell, the amount Foxconn was prepared to pay for a 10% stake kept falling.

Sharp has been protected from collapse by the government-backed Innovation Network Corporation of Japan (INCJ) which arranged a $2 billion bank bail-out for it last year.

However, it is said that INCJ may make a $2.5 billion bid for Sharp to keep it under domestic control.

Sharp made a $2 billion loss in the financial year to March 2015 and a $220 million loss in the six months to September 2015. It is due to repay $4.3 billion debt in March.

See also: Foxconn invests in ailing Sharp

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