Sharp accepts Foxconn's $6.2 billion takeover offer

But the deal isn't final, yet.

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In this article: acquisition, business, Foxconn, gear, Sharp
Buddhika Weerasinghe/Bloomberg via Getty Images
Buddhika Weerasinghe/Bloomberg via Getty Images

According to reports from Japanese business journal Nikkei and Reuters, Sharp has decided to accept a takeover offer from Foxconn. Taiwan's Foxconn is a massive electronics manufacturer best known for being the main assembler of Apple's iPhone, and Nikkei sources say its 700 billion yen ($6.2 billion) offer closed the deal, winning over a bid from an investment group backed by the Japanese government. Last we heard, this move could put Foxconn in position to start making and releasing its own hardware under the Sharp brand, but since no details have been officially announced, we can only speculate.

Update: It's official, as Sharp has issued a Japanese press release (PDF) confirming the move.

Or... not, if this tweet from the Wall Street Journal is to be believed. More when we have it.

Update 2: Well this is embarrassing. Despite Sharp's announcement, Foxconn says it's delaying the signing due to some new details Sharp disclosed yesterday. It sounds like Foxconn has to examine some detailed liabilities from the Japanese manufacturer. "We already notified Sharp on the same day [before Sharp held its board meeting on Thursday] that our side had to clarify the contents," Foxconn said in a statement handed to the Wall Street Journal. "We have to postpone the signing before both sides can reach an agreement. We hope to clarify it quickly and to bring this deal to a successful conclusion."

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