The following appears on sfgate.com
March 28 (Bloomberg) -- Foxconn Technology Group and founder Terry Gou will invest 133 billion yen ($1.6 billion) in Sharp Corp. and its display unit as the maker of Apple Inc.'s iPad seeks a supply of flat panels to drive future growth.
Foxconn, including Taipei-listed flagship Hon Hai Precision Industry Co. will buy 9.9 percent of Sharp Corp. for 66.9 billion yen in a new-share sale, the Osaka-based company said in a statement. Foxconn chairman Terry Gou and related investment companies will buy 46.5 percent of Sharp Display Products Corp., a venture with Sony Corp., for 66 billion yen.
Yesterday's deal, the largest Japanese acquisition by a Taiwanese buyer, includes an agreement to purchase as much as 50 percent of Sharp Display's LCD panels. Sharp, which last month forecast a record 290 billion-yen loss for the fiscal year as TV prices dropped, may begin supplying panels for Apple's iPad next month, according to researcher IHS Inc.
"This is a risky and aggressive move by Foxconn, which is betting on current and future Apple products, including the iPad and an Apple television, a product which doesn't even exist," said Vincent Chen, a Taipei-based analyst at Financial Holding Co. who recommends investors buy Hon Hai. "Foxconn needs the acquisition to get advanced display technology, which it currently lacks.
Read more: http://www.sfgate.com/cgi-bin/...YK.DTL#ixzz1qMqZXXNf
Original Post