Foxconn Finally Wrangles Sharp Deal

Foxconn has agreed to purchase a controlling stake in Sharp — about 66 percent — for roughly $3.5 billion, the companies announced Wednesday. Foxconn has committed to restoring Sharp’s profitability and improving operations, according to the companies. “I am confident that we will unlock Sharp’s true potential,” Foxconn CEO Terry Gou said. The acquisition brings months of speculation and rumors to a close and marks a new era in a relationship that has endured years.

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