“Acquisition of Sharp by Foxconn will be sealed this week ‘

Mar

29

2016

After lengthy negotiations, Foxconn and Sharp would have agreed on the terms of a takeover. According to rumors, the papers to be signed this week, and Foxconn will pay an amount of about 3.1 billion euros to take over Sharp.

That reports the usually well-informed Reuters. The intention is that next Wednesday a meeting is held at both companies where the board of directors must approve the terms of the acquisition. Then the deal officially sealed on Thursday, according to Reuters sources.

Initially the takeover last month to come around, when Foxconn and offer the equivalent of about 5 billion euros on the table explained . But there was a new financial information on the table which Foxconn substantially its offer reduced up to an amount equivalent to about 3.1 billion euros, according to rumors. Despite Sharp seems yet to agree.

Sharp has been struggling for years with disappointing financial results. Therefore, the company had been repeatedly jobs deleted . The acquisition Foxconn would like to retain the LCD supply for its smartphone and tablet customers. The company has been a minority stake in Sharp and it was already set up a joint venture for the production of LCDs.

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