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Foxconn's lookin' Sharp: $6 billion takeover accepted

Sharp Foxconn

Manufacturing giant Foxconn looks set to get a big boost to its display-making capabilities, with reports that the board of directors at Japanese electronics firm Sharp have accepted a takeover deal from the Taiwanese company.

The deal is reportedly worth 700 billion Yen (around US$6.24 billion, £4.48 billion), with Foxconn promising to keep the historic Japanese brand intact and avoid major layoffs.

If the deal is accepted by Sharp's shareholders it will become a rare instance of a Japanese company selling to a multinational firm. According to the Wall Street Journal, Foxconn had been running as an underdog to the Japanese government-backed Innovation Network Corp of Japan.

However, the Taiwanese firm pushed harder, offering a significant premium to win over the Sharp board.

  • Sharp has an impressive history in developing display technologies, both in television screens and in smartphone screens.
Having spent the past decade editing some of Australia's leading technology publications, Nick's passion for the latest gadgetry is matched only by his love of watching Australia beat England in the rugby.