The biggest smartphone manufacturer in World and the smartphone company is going to sign the takeover deal on 31st March. We are talking about the FOXCONN and SHARP deal. These two companies are going to sign a Takeover deal on 31st of the March. IN this deal, the FOXCONN will take over SHARP and its operations, which will make FOXCONN more dominant in the smartphone market.
The deal is going to happen on 31st March, the day after the board meeting and approval of the deal. The SHARP Electronics are going through the awkward economic phase; that’s why FOXCONN is going to acquire it. The bailout package offered by FOXCONN to Sharp was not enough for the company. That’s why the deal between these two companies was delayed several times.
But, this time, FOXCONN has slashed the takeover bailout package for SHARP up to $884 millions, The SHARP officials were not agreed on this deal before, but they’ve agreed somehow and signing a contract on March 31st after approval in Board Meeting. The SHARP Corporation is a Japanese electronics giant, which was stuck in financial crisis. The official from both the companies is not allowed to talk with media persons and not to reveal or comment on anything which is related to this deal. The deal is going to be the biggest deal of takeover of the Japanese company.