Sharp Foxconn Deal

This deal could be very meaningful for MicroVision. Watch this closely. From the conflicting reports, a deal could be announced, any time -- before, during or after this week's conference call.

Sharp is using PicoP in RoBoHon -- but they also showed PicoP during the wearables conference, and showed two different engines -- clearly they intend to sell it as a component. Other than SONY - there is no company better position to sell picop as a component than Foxconn.

Given the language used about this deal and the conditions of the two companies, I am virtually certain that the deal will be done. I think the haggling right now is over the price and the terms.

Stay tuned.

Wall Street Journal

The two companies aim to seal a near-US$6 billion deal early next week after one more round of negotiation, the people said. Foxconn and Sharp are optimistic that the Japanese company’s recent disclosure of an additional ¥350 billion in contingent liabilities or potential financial risk, won’t derail the deal, the people said.

Since Monday, Foxconn and Sharp have deployed hundreds of people across all of Sharp’s locations to study the latest list of financial risk, the people said. The teams have been meeting around the clock and late into the night to determine whether the new risks are acceptable, the people said. 

(Be sure they are also studying the opportunities!)

Foxconn’s offer was double what a government-backed Japanese fund—Innovation Network Corp. of Japan—was offering and included relief for Sharp’s two main banks, which are saddled with the company’s debt.

Financial Times

Foxconn’s Gou determined not to lose Sharp

For an executive with a reputation as a control freak, Terry Gou corralled an astonishingly large battalion of advisers in his $6bn battle to buy the Japanese technology group Sharp.

The charismatic and unpredictable founder of Foxconn, accustomed to conducting his own deals, supplemented his ranks with influential Japanese megabanks and hired JPMorgan to help in its dealings with Sharp and the powerful Japanese Ministry of Economy, Trade and Industry (Meti).

The advisory army is testament to Mr Gou’s determination to ensure Sharp, which makes screens for mobiles and TVs, does not slip from his grasp as it did four years ago.

He expects to have a revised deal signed by Monday, according to people familiar with the matter. “Things are on the right track,” said one.