Foxconn says that they have received preferred negotiating rights and any remaining issues are regulatory and legal, which attorneys are working on.
The company offered 659 billion yen ($5.6 billion) in Sharp, nearly double the next highest offer for the company, which came from a Japanese government-backed consortium.
"We have a consensus," noted Foxconn CEO Terry Gou. "The rest is a process ... I don't see a problem completing this process."
If the deal is completed it will show how desperate Gou is to acquire Sharp's technology. Before the bid, Sharp had a market capitalization of just $2 billion, has lost money for years, and has tons of debt, some of which comes due this year.
Source:
Reuters
Written by: Andre Yoskowitz @ 6 Feb 2016 11:12
