Foxconn said to bid over $5bn for Sharp
21 January 2016 | 0
Sharp has been a household brand in Japan and includes among its creations the Hayakawa mechanical pencil, named after the company’s founder and developer of the device, Tokuji Hayakawa. Propelling pencils are still referred to in the country as Sharp pens.
After reports surfaced recently of the possible sale of its LCD panel business as well as on the possible investment from Innovation, Sharp said last week nothing had been decided yet, and it continues negotiations with other companies regarding “fundamental structural reforms” of its LCD panel business.
Foxconn does not plan to replace Sharp’s top management, a move that could reassure Japanese officials who are worried about a foreign takeover bid, WSJ said. The Taiwanese company has previously shown interest in investing in a 10% stake in Sharp.
IDG News Service