Sharp's Board of Directors Accepts Hon Hai's $6.2 billion Takeover Offer
2016-02-25 00:00
Netease science and technology news on February 25, according to Japanese media reports, sharp's board of directors decided to accept Hon Hai's 700 billion yen (about $6.2 billion) offer on Thursday. The Japanese electronics manufacturer intends to restructure its operations under the aegis of Hon Hai (also known as Foxconn). Details of the agreement have not been released.
There were two options in front of Sharp, one is the acquisition of Hon Hai, and the other is the support of Japan's state-owned fund Japan Innovation Network Corporation (INCJ). INCJ plans to inject 300 billion yen into Sharp and provide a 200 billion yen credit line. A Sharp spokesman declined to comment.
Earlier, Sharp's board of directors held a two-day meeting to discuss whether to accept a takeover offer from Hon Hai, the world's largest agent, or accept INCJ's rescue. Thirteen directors of the company participated in networking meetings in Tokyo and Osaka, respectively. Hon Hai had previously said that if Sharp accepted the offer and restructuring proposals, it would guarantee not to disclose Sharp's technical secrets.
According to recent reports, if Sharp accepts Hon Hai's restructuring plan, Hon Hai will ask Sharp to cooperate with Japan Display Company (JDI). Hon Hai chairman Terry Gou said his company will retain the Sharp brand and does not plan to merge Sharp with other companies. He said: "We don't want to destroy the company and will keep it for 100 years. It was a wise decision to work with us."
At the same time, Gou also said that there will be no large-scale restructuring of management after the acquisition, and employees under the age of 40 will not be laid off. On February 5, Gou Taiming expressed confidence in the acquisition of Sharp before the 29th. This date is the deadline for Hon Hai and Sharp to reach a final agreement. (Mu Xiulin)
More news
2016-03-15
Scan to enter mobile website
Copyright©2023 All rights reserved of Shenzhen Zhuoyao Technology Co., Ltd.
