Foxconn Technology Co., Ltd. (FXCOF) - Grey Market
  • Wed, Jun. 1, 3:55 AM
    • Taiwanese regulators have cleared Foxconn's (OTC:FXCOF) $3.5B purchase of a 63.6% stake in Sharp (OTCPK:SHCAY), paving the way for a transformation at the Japanese display maker.
    • Earlier this month, Foxconn founder Terry Gou said there would have to be layoffs to turn around the ailing company, but pledged that wages would rise and profit-sharing would again be the norm.
    | Wed, Jun. 1, 3:55 AM | 1 Comment
  • Wed, May 18, 9:27 AM
    • Microsoft (NASDAQ:MSFT) is bailing out on Nokia's feature phone business, selling its assets there to FIH Mobile (a unit of Foxconn (OTC:FXCOF)) and HMD Global for just $350M.
    • FIH Mobile takes over Microsoft Mobile Vietnam in the deal, and that unit's 4,500 employees will join FIH Mobile or HMD Global or transfer.
    • All feature phone assets are transferring, but Microsoft will continue work on Windows 10 Mobile and supporting Lumia phones from OEM partners.
    • Microsoft had a feature phone brand license until 2024 but is electing to get out of the business now. Speculation points to the prospect of a Surface Phone launch in the coming year.
    • MSFT is -0.5% premarket.
    • Now read Microsoft Should Say Goodbye To Lumia, Let Another Firm Carry That Brand »
    | Wed, May 18, 9:27 AM | 14 Comments
  • Wed, Mar. 30, 5:20 AM
    • Capping weeks of drama and intense negotiations, Foxconn Technology (OTC:FXCOF) has finally clinched a deal to take over Sharp (OTCPK:SHCAY), but with a lower price tag than their original deal.
    • The Taiwanese firm will pay about $3.5B for a two-thirds controlling stake in the embattled Japanese company, nearly $900M less than its initial offer.
    • Sources have also told the Yomiuri newspaper that Foxconn is planning to overhaul Sharp's management including replacing its CEO.
    • Previously: Foxconn to agree on Sharp takeover, overhaul management (Mar. 30 2016)
    | Wed, Mar. 30, 5:20 AM | 16 Comments
  • Wed, Mar. 30, 3:11 AM
    • Foxconn (OTC:FXCOF) is set to agree on deal to acquire Sharp (OTCPK:SHCAY) today, gaining a big discount to its original offer after a month of wrangling about potential liabilities.
    • According to Reuters, the Taiwanese firm is likely to cut its initial ¥489B ($4.3B) offer for a two-thirds stake by about ¥100B.
    • Sources also told the Yomiuri newspaper that Foxconn is planning to overhaul Sharp's management including replacing its CEO.
    • Previously: Foxconn-Sharp deal price likely to fall by more than $2B (Mar. 29 2016)
    | Wed, Mar. 30, 3:11 AM
  • Tue, Mar. 29, 3:16 AM
    • The boards of Sharp (OTCPK:SHCAY) and Foxconn Technology (OTC:FXCOF) will meet separately tomorrow to discuss a revised takeover package that could slash at least ¥245B ($2.2B) off the price tag for the troubled Japanese electronics maker, WSJ reports.
    • Over the past month, Foxconn has sent hundreds of people to take stock of everything from Sharp's information-technology infrastructure to its inventories, uncovering issues related to factory overcapacity and China sales that helped convince Sharp's lenders to agree to revised terms.
    • Previously: Sharp, Foxconn push to close deal after delays (Mar. 28 2016)
    | Tue, Mar. 29, 3:16 AM | 1 Comment
  • Mon, Mar. 28, 2:05 AM
    • Expectations are high that Sharp (OTCPK:SHCAY) may sign a long-delayed takeover deal with Foxconn (OTC:FXCOF) this week.
    • According to to the Taiwan stock exchange, Foxconn will hold a board meeting on March 30 as scheduled, where it will likely discuss the transaction depending on the stage of negotiations.
    • Sharp aims to reach an agreement as soon as possible, and will promptly make information public if it reaches a decision requiring disclosure.
    • Sharp shares +4% in Tokyo.
    | Mon, Mar. 28, 2:05 AM | 6 Comments
  • Sun, Mar. 20, 10:12 AM
    • Taiwan's Foxconn (OTC:FXCOF) is seeking to reduce the amount it pays for Sharp (OTCPK:SHCAY) due to concerns about potential liabilities and future earnings.
    • According to the Yomiuri newspaper, Foxconn's investment in new equity to be issued by the embattled Japanese firm may shrink by 10%-20% from the originally agreed ¥489B ($4.4B).
    • The Taiwanese company is also in talks with Sharp’s main banks to reduce interest rates on ¥510B in credit lines and loans due at the end of March.
    | Sun, Mar. 20, 10:12 AM | 1 Comment
  • Tue, Mar. 15, 8:28 AM
    • Foxconn Technology (OTC:FXCOF) is delaying finalization of its deal for Sharp (OTCPK:SHCAY) to get a clear understanding of the Japanese company’s performance in the current quarter.
    • The move increases the chances an agreement won't be reached this month, according to Bloomberg.
    • Foxconn, which agreed to pay more than ¥600B ($5.3B) for control of Sharp, has asked the company and its auditor for the latest financial results.
    | Tue, Mar. 15, 8:28 AM
  • Wed, Mar. 9, 2:48 AM
    • Sharp's (OTCPK:SHCAY) two main banks are set to lower interest rates on billions of dollars in loans and offer other financial support as part of a planned takeover by Taiwan's Foxconn (OTC:FXCOF), Reuters reports.
    • The move is partly a response to a last-minute hitch to the signing of the deal over potential liabilities at the ailing Japanese display maker, although some of the discussions have been going on for quite a while.
    | Wed, Mar. 9, 2:48 AM
  • Fri, Feb. 26, 2:21 AM
    • Sharp (OTCPK:SHCAY) CEO Kozo Takahashi and Foxconn (OTC:FXCOF) Chief Executive Terry Gou plan to meet in China today, after the latter put a deal to take over the ailing Japanese electronics maker on hold.
    • Reason for the delay? Foxconn attributed the wait to "new material information," with sources explaining that the firm was surprised by a new list containing ¥300B ($2.7B) worth of "contingent liabilities."
    • Sharp shares plummeted 11.4% in Tokyo on the news.
    • Previously: Foxconn delays signing of Sharp takeover deal (Feb. 25 2016)
    | Fri, Feb. 26, 2:21 AM
  • Thu, Feb. 25, 7:54 AM
    • Foxconn Technology (OTC:FXCOF) is delaying the signing of a definitive takeover agreement with Sharp (OTCPK:SHCAY) due to new details the Japanese electronics maker disclosed a day earlier.
    • "We hope to clarify it quickly and to bring this deal to a successful conclusion," it said in a statement.
    • Foxconn didn't elaborate, but sources said that the Taiwanese iPhone assembler is reviewing Sharp's future financial risk after receiving a list of about ¥350B worth of "contingent liabilities."
    • Previously: Nikkei: Sharp agrees to $6.2B buyout by Foxconn (Feb. 24 2016)
    | Thu, Feb. 25, 7:54 AM | 5 Comments
  • Wed, Feb. 24, 9:18 PM
    | Wed, Feb. 24, 9:18 PM | 5 Comments
  • Thu, Feb. 4, 2:04 AM
    • Sharp (OTCPK:SHCAY) has decided to enter exclusive talks with Foxconn Technology (OTC:FXCOF) regarding a takeover, choosing the Taiwan firm's offer over a rescue plan from government-backed Innovation Network of Japan.
    • The decision comes after months of uncertainty over the fate of the company, whose display business has continued to suffer massive losses despite two major bailouts.
    • According to broadcaster NHK, Foxconn offered over ¥700B ($5.9B) for Sharp, more than double the amount of investment proposed by INCJ.
    • Previously: Sharp meets with Foxconn and Japanese state-backed fund (Jan. 31 2016)
    | Thu, Feb. 4, 2:04 AM | 4 Comments
  • Sun, Jan. 31, 8:52 AM
    • After meeting with Sharp's (OTCPK:SHCAY) board on Saturday, Taiwan's Foxconn Technology (OTC:FXCOF) said it was confident about its ¥625B (about $5.3B) offer for the struggling Japanese electronics maker, and expected the firm to come to a decision within a week.
    • Foxconn's rival in the bid for Sharp, Innovation Network of Japan, is said to be discussing a capital injection of more than ¥300B, and up to ¥350B of financial assistance from the company's two main lenders.
    • Previously: Foxconn proposes detailed offer for Sharp (Jan. 27 2016)
    • Previously: Bloomberg: Sharp said to favor INCJ over Foxconn offer (Jan. 21 2016)
    | Sun, Jan. 31, 8:52 AM
  • Wed, Jan. 27, 4:31 AM
    • Foxconn Technology (OTC:FXCOF) has made a detailed offer to buy Sharp (OTCPK:SHCAY) including a promise to not cut jobs, challenging an offer by government-backed Innovation Network of Japan, Reuters reports.
    • Foxconn, formally known as Hon Hai Precision Industry, previously offered ¥625B (about $5.3B) for Sharp, but the Japanese company and its lenders had not taken the offer too seriously as it lacked a detailed restructuring plan
    | Wed, Jan. 27, 4:31 AM
  • Thu, Jan. 21, 3:49 AM
    • Sharp (OTCPK:SHCAY) is leaning toward accepting a rescue by government-backed Innovation Network of Japan over a potentially larger offer from Foxconn Technology (OTC:FXCOF), Bloomberg reports.
    • Sources said a deal with INCJ would allow the firm to keep its technology within Japan and cooperate more closely with domestic companies.
    • Sharp's stock climbed as much as 25% in Tokyo today after Foxconn offered ¥625B (about $5.3B) to take it over.
    • Previously: Sharp up 13% in Tokyo on report of $5.3B buyout bid from Foxconn (Jan. 20 2016)
    | Thu, Jan. 21, 3:49 AM | 3 Comments
Company Description
Currently, there's no company description for FXCOF.
Sector: Technology
Industry: Electronic Equipment