Sharp agreed with the proposal of the Corporation Taiwan Hon Hai takeover

TOKYO, February 25. /Corr. Igor Belyaev/. Japanese Corporation Sharp Corp. agreed with the proposal with a major Taiwanese Corporation Hon Hai Precision Industry that is willing to buy this in difficulty the manufacturer of electrical equipment. This was reported by Japanese Agency Kyodo.

Originally Sharp was holding active negotiations with the Fund industry updates, established by the Japanese government jointly with the private sector. He suggested Sharp 300 billion yen ($2.5 billion), putting it under control. It was intended to separate her from the company in difficulty unit for the production of liquid crystal displays, and to combine it with another Japanese firm. However, Hon Hai Precision Industry offered to buy completely Sharp for twice that amount to 600 billion yen ($5 billion). Thus it guarantees the preservation of the company in its current form, including all of its employees. The Taiwanese Corporation also objected to the conservation management of the Corporation.

Hon Hai Precision Industry is one of the world’s largest suppliers of electronic components. Under the Foxconn brand it, in particular, under contract with the American Corporation Apple collects in its facilities in China the iPhone. By complete or partial absorption of Sharp, the company hopes to raise its technological level and in other areas of business, including in the field of consumer electronics.

The headquarters of Hon Hai Precision Industry is located in Taiwan, however it produces products mainly in its facilities in mainland China.

Last fiscal year, Sharp completed with a net loss in the amount of 222,35 billion yen (about $1.87 billion).