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Foxconn agrees to acquire controlling interest in Sharp for $3.5 billion

(credit: Fang Hsieh)

On Wednesday morning, Bloomberg and Reuters reported that the struggling Japanese giant Sharp had sold a two-thirds stake to Foxconn, the world’s largest electronics contractor manufacturer, for 389 billion Japanese yen ($ 3.5 billion, £2.4 billion).

The offer is about $ 1 billion less than what Foxconn had been expected to...

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