Foxconn Set To Acquire Sharp Corporation For $5.6 Billion

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Foxconn, a Taiwanese electronics contract manufacturing/assembly company, is reported to be finalizing a deal to acquire Sharp Corporation for $5.6 billion, with the beleaguered company having finally rejected a proposed government rescue package in favor of the deal. Foxconn, formerly known as Hon Hai Precision Industry Co. Ltd, was brought to media attention in 2010, when the company installed suicide nets to stop the high number of employee suicides at company dorms. Although it seems out of the ordinary that one of the world’s few producers of LCD panels is negotiating with Foxconn, the deal is expected to go through, making it one of the biggest foreign takeovers of a Japanese company. Read more of this story at Slashdot.

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Foxconn Set To Acquire Sharp Corporation For $5.6 Billion

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