Hon Hai Signs Acquisition Agreement with Sharp
Signing Ceremony in Sakai, Osaka
Terry Gou, Founder and Chairman of Taiwanese electronics contractor Foxconn (official name Hon Hai Precision Industry Co., Ltd.), and Kozo Takahashi, President and CEO of Sharp Corporation, speak at a joint press conference held at Sakai Display Products Corporation on April 2, 2016 in Sakai Ward, Osaka, Japan. Gou and Takahashi announced the final terms for the final terms for the Sharp Corporation, which will be announced at a joint press conference held at Sakai Display Products Corporation on April 2, 2016 in Sakai Ward, Osaka, Japan. Gou and Takahashi announced the final terms for the deal for the Foxconn to acquire Japan's Sharp at discounted rate on after a month of uncertainty. Originally Foxconn had offered $4.4 billion for a two-thirds stake in Sharp, but ended up paying $3.5 billion after undisclosed Sharp liabilities became apparent. Foxconn is expected to use its controlling stake in Sharp to strengthen its negotiating position with it's biggest customer, Apple Inc., now that it has access to the Japanese company's superior screen display technology.