Foxconn Hold On Deal To Buy Sharp

Foxconn holds on the deal to buy Japan electronic company, Sharp. Sharp already make the announcement on the acquisition. But a few hours later Foxconn said they need more time to go through new information they received. Sharp shares nosedived 14 percent after the latest announcement. Under the plan, Foxconn would buy shares in Sharp worth $5.25 billion. Sharp is a well-known company producing electronic parts and products. In 2015, Sharp record a net loss of $960 million. They are struggling to position themselves back after they lose a lot of money on their investment in the liquid crystal display (LCD) business.

sharp_plant_wrexham_Image_Sharp_Corporation_23f83a31fa(via CNN)

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