It's A Deal: Foxconn Is Buying Sharp

It will be the largest acquisition by a foreign company in Japan's tech sector to date.

Taiwanese manufacturing and supply firm Hon Hai Precision Industry Co, or more readily known as "Foxconn," will acquire Japan's Sharp Corporation for $5.5 billion, Reuters reports. The deal is expected to close by the end of this month and the amount that Foxconn is offering would make it the largest acquisition by a foreign company in Japan's tech sector to date.

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