The Hon Hai Precision Industry Co is the largest developer and supplier of electronics in Asia and is going to buy Japanese rival Sharp for $ 2.5 billion. This proposal is very beneficial for Sharp, because the amount that the Taiwanese firm offered for the transaction twice exceeds the market value of the company.
At the same time, one of the main condition of the deal is a complete change of composition of the leadership of the Japanese company, there will be a new direction from Hon Hai Precision Industry. As a result of the purchase, Hon Hai Precision Industry will assume all Sharp debts , the total amount of which currently stands at about $ 6.3 billion. In total, the Japanese company buyers spend about $ 9 billion.
Sharp’s multi-billion dollar debt has contributed to the sale of the business. For Taiwanese company the purchase is a chance to expand and optimize the production of its market and increase the sphere of influence abroad. Firstly, Hon Hai Precision Industry in Sharp wanted to buy only the technology of production, but the Japanese company refused the offer. A forthcoming transaction involves the purchase of total business, especially Taiwanese company is interested in technology of LCD screens.
According to informed sources, the Japanese are very concerned about the impending deal because of one of the largest and most influential companies in the country for the production of electronics will be under the foreign control.
Sharp tried to avoid the sale of its business through a corporation of industrial innovation, but because of the fact that the company has billions of dollars in debt, none of the investors did not dare to invest in such a business. To date, the Taiwanese competitors’ proposal is one of the most profitable for Sharp, according to experts, this is the only way to write off debts.
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