Foxconn puts brakes on $6bn Sharp acquisition

Foxconn discovers concerning financial details admist Sharp acquisition, puts deal on hold.

@seanridgeley
Published Thu, Feb 25 2016 7:06 PM CST   |   Updated Tue, Nov 3 2020 12:01 PM CST

Taiwan's technology giant Foxconn was set to purchase struggling Japanese electronics maker Sharp for nearly $6 billion this morning until it discovered some concerning information released by the latter company yesterday. Now Foxconn is taking time to look over the details, but says it hopes to resolve the situation quickly and then complete the deal.

Foxconn puts brakes on $6bn Sharp acquisition | TweakTown.com

Its concern is understandable: Sharp released a list of approximately 100 contingent liabilities that would see Foxconn inherit a potential $3.1 billion worth of risk should it take the company over, sources close to the matter say.

This latest disturbance is just one of many in the long-running on and off negotiations which date back to at least 2012.

NEWS SOURCE:nasdaq.com

Sean has a background in journalism, and has been using that to write about gaming and tech since 2008 - first for Neoseeker, then Rage3D, and now, TweakTown. As News Editor, Sean's job is to supply regular stories on the latest happenings in the tech world. He also writes tweak guides to help you get the most out of your PC games and hardware.

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