Sharp eyes selling plants to Hon Hai

Business Aug. 12, 2012 - 06:37AM JST ( 4 )

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

-1

herefornowAug. 12, 2012 - 11:05AM JST

The reports came as Hon Hai pushes to change the terms of its agreement to take a 10% stake in the cash-strapped firm,

Read between the lines. Means that the numbers Sharp gave Hon Hai during the due-diligence process leading up to the stock sale were bogus. And now Hon Hai is going to demand a MUCH lower price, and/or a bigger stake in Sharp and some meaningful presence in the maangement. They have seen first-hand how much trouble Japan Inc. is really in.
-2

that korean guyAug. 12, 2012 - 11:40AM JST

they should be able to get the price of big fat zero dollars
-2

avigatorAug. 12, 2012 - 02:13PM JST

and the beat goes on.
0

basroilAug. 13, 2012 - 10:28PM JST

Sharp this month reported that it lost $1.77 billion in April-June and warned of a bigger full-year shortfall than first expected, prompting its shares to fall below 200 yen.

Hon Hai agreed in March to take a 10% stake in Sharp for about 550 yen per share but the firms are now renegotiating the investment.

Sharp isn't eying selling, it already did. The chinese company is simply trying to breach contract. Hopefully Sharp had a steep cancellation fee in there, they sure can use it.