Sharp Corp board has gathered today to weigh the bidding offers. The competition is between the Taiwanese electronics giant, Foxconn and the Japanese government-backed establishment, Innovation Network Corporation of Japan. While ICNJ has always been the favoured choice, Foxconn is giving it a stiff competition by way of doubling the offered price along with debt pay-offs and retention of management and employees.
Innovation Network Corporation of Japan
Breaking News
Japan state-backed fund is keen on acquiring stakes in Sharp Corporation for Yen 200 billion ($1.63 billion). Sharp Corp recorded Yen 50 billion operating loss for the first half of 2015. The LCD business unit of Sharp Corp is a major contributor to the losses. Sharp is planning to spin off LCD business unit and later it may consider stake selling, according to media reports.
Subscribe to VCpost newsletter
Most Popular
- Former CEO Shoots Himself to Commit Suicide After Receiving $25 Million Record-Breaking Fine for Fraud at Steinhoff
- Xi Jinping Warns Dutch PM That 'No Force' Can Stop China's Technological Advancement Amid Export Restrictions
- Businessman Brutally Murdered Allegedly by 4 of His Workers Who Swung an Axe Into His Head
- Taylor Swift Reaches Her Billionaire' Era,' Joining Elon Musk and Jeff Bezos on the List of World's Wealthiest People
- Four Deaths May Be Linked to Dietary Supplements Made by Japan’s Kobayashi Pharmaceutical: Report
- Major AI Companies Unite to Create the World's First Artificial Superintelligence Alliance Worth $7.6 Billion
- Disney Investor Nelson Peltz Criticizes the Company’s 'Woke' Strategy, Questioning 'Black Panther' and 'The Marvels' Films
- Alaska Airlines Passenger Loses Pet Dog During Loading Due to Airline Misstep