Friday, May 25, 2012

Sony and Sharp End Joint LCD Venture

Sony to sell back shares at full
refund
Sony and Sharp announced
the end to a partnership
formed in 2009, when Sony
invested $126 million (£80
billion) in Sharp's LCD display
business and received a 7
percent stake in the display
manufacturer.
The deal started to go really
sour when Sony announced
in March that they wouldn't
inject any more financing
into the venture.
And, by September this year
they would decide what the
future of the two companies'
collaboration would be.
That future turned out to be
nonexistent, as Sony
announced that they'll sell
back their 7 percent at a full
refund.
Also in
March,
just
before
the
Sony/
Sharp
partnership went south,
Sharp announced that the
electronics manufacturer
Foxconn
would purchase a
50 percent stake in Sharp for
$809.1 million (£515 billion).

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