Tue, Mar. 31, 7:58 AM
- Canadian Solar (NASDAQ:CSIQ) has completed its acquisition of Recurrent Energy from Sharp (OTCPK:SHCAY) for $265M.
- With the closing of the transaction, David Brochu has been appointed Recurrent's new CEO to replace Arno Harris. Michael Metzner, Recurrent's CFO, is also stepping down from his role.
- CSIQ +1.2% premarket
- Previously: Canadian Solar to acquire Sharp's Recurrent for $265M (Feb. 03 2015)
Dec. 7, 2014, 5:03 AM
- Sharp (OTCPK:SHCAY) is set to sell its U.S.-based solar energy development unit Recurrent Energy to Canadian Solar (NASDAQ:CSIQ) for about ¥30B ($247M), reports the Nikkei business daily.
- Sharp previously paid $305M in cash to acquire the business in 2010, although a sale would now help the company raise capital as it struggles to increase its equity ratio to a healthy level.
- A basic agreement it expected by the end of the month, with a final sale in the spring.
- Previously: Sharp continues to withdraw from solar industry (Sep. 08 2014)
Apr. 1, 2014, 3:58 PM
- The Nikkei reports Apple (AAPL +0.9%) is in talks with Renesas (RNECF) to buy its 55% stake in iPhone LCD driver IC supplier Renesas SP Drivers, and is looking to acquire it for ¥50B ($479M).
- Sharp (SHCAY) owns 25% of Renesas SP, and Taiwan's Powerchip 20%. Sharp is expected to sell its stake to Apple if the company asks for a a deal after buying Renesas' interest.
- Apple, which already develops its own app processors and fingerprint sensors, reportedly "wants to meld the design of core display components into overall product development."
- A deal could be a positive for Himax (HIMX +3.9%) and MagnaChip (MX -0.6%), given Renesas SP's other clients would start looking for alternative LCD driver suppliers. Renesas SP has an estimated ~33% share of the market for small and mid-sized LCD drivers/controllers. It had revenue of ¥60B ($575M) during the fiscal year ending March 31.
- Earlier: 4.7" iPhone LCD production reportedly set to start
Mar. 6, 2013, 4:41 AMSharp's (SHCAY.PK) future looks a little more secure after confirming that Samsung (SSNLF.PK) has agreed to invest ¥10.3B ($110M) in the struggling Japanese company in return for a 3% stake. Sharp will also provide large TV panels to the Korean firm and increase the shipments of smaller LCDs. Samsung's investment adds to a $120M injection from Qualcomm (QCOM) in December. Sharp's shares surged 14.05% in Tokyo on reports of the latest deal. (PR) | Comment!
Mar. 27, 2012, 12:03 PMSharp (SHCAY.PK) plans to sell a 9.9% stake to contract manufacturing giant Foxconn (HNHAF.PK) at an 11% premium to today's close, as well as a 46.5% stake in its display unit to Foxconn's founder. Apple (AAPL) might just have something to do with this tie-up: Foxconn is Apple's biggest contract manufacturer, and Sharp is both a display supplier to Apple and the rumored manufacturer of the iTV. | Comment!
SHCAY vs. ETF Alternatives
Sharp and its subsidiaries are engaged in the manufacture and sale of consumer/information products and electronic components. Co.'s principal business segments are electronics equipment and electronics parts. Co.'s products include LCD color TVs, high vision TVsl color TVs, TV/VCR combos, DVD... More
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