Foxconn to reduce offer for Sharp by around $900 millionStaff writer ▼ | March 21, 2016
Taiwan's Foxconn is likely to reduce its investment into Sharp by around 100 billion yen ($898 million), from an initial plan of 489 billion yen, Japan's Jiji News reported.
Acquisition Foxconn is reviewing the Sharp bid
Foxconn is reviewing the bid given concerns about future losses as well as on deterioration in Sharp's earnings in the financial year to March 31, Jiji reported.
Foxconn will lower the purchase price of new share offers from Sharp from a planned 118 yen per share, while retaining the plan to own two-thirds stake in Sharp, Jiji added.
Sharp aims to hold a board meeting to decide on the new rescue deal by the end of month, the news wire said. ■