Foxconn buys Sharp

OREGON LIVE: The deal brings together the main manufacturer of Apple iPhones and Japan’s famed electronics producer. The Sharp research site in Camas, Washington is being sold to Foxconn.

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The parent of Hon Hai Precision Industry Co. is paying 389 billion yen ($3.5 billion) for a controlling stake in Sharp, a drop of 100 billion yen from an agreement forged a month ago. As a result, Foxconn and its affiliates will get 66 percent of the Japanese company for 88 yen per share, both companies said in statements on Wednesday.

“Finally, it’s decided,” said Hideki Yasuda, an analyst at Ace Research Institute in Tokyo. “This is positive for Sharp, although it’s hard to imagine that Foxconn won’t have to keep providing funds.”

A Sharp subsidiary, Sharp Microelectronics of the Americas, has its headquarters in Camas where it operates a research and marketing site. It has historically employed 150 there.

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