Hon Hai Precision hardened conditions for merger with Sharp
Since we had said that Sharp was not going at all well, and how you may have to sell some of its plants to a new partner Hon Hai Precision Industry Co. Ltd. For today, the hon hai chairman Terry Gou, is requiring an administrative position in Sharp Co., as part of the terms to carry out the merger.
The treatment Sharp is trying to negotiate with Hon Hai, better known in the underworld as Foxconn Electronics, is that the latter has a 9.9% stake in the Japanese firm. To this, Gou said that is not meant only to give them money and that he is not a “venture capitalist”.
As this occurs, follow Sharp shares in open bite, adding a bit more pressure to the negotiations. Hon Hai Sharp knows that you need the money urgently as the situation and wants to take away with it. Sharp looking to Hon Hai pay USD $ 685 million or 9.9% of Sharp, money that the company could go out of the financial problems facing the banks.
Link: Sharp suffers to save (CNN Expansion)Tags: foxconn, hon hai, Sharp