Foxconn makes $5.3b offer for Sharp, plans to keep management

Foxconn makes $5.3b offer for Sharp, plans to keep management

The logo of Sharp Corp is seen at Tochigi plant in Yaita, north of Tokyo, November 19, 2015. REUTERS/Reiji Murai/Files

Taiwan’s Hon Hai Precision Industry Co has offered 625 billion yen ($5.3 billion) to buy Sharp Corp and has no plans to replace top management, a gesture aimed at reassuring Japanese authorities worried about an overseas takeover, the Wall Street Journal reported.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter