Hon Hai to Buy Hitachi, Canon LCD Venture for $1.2 Billion, Nikkei Reports

Source: Bloomberg By Yoshinori Eki as well as Tim Culpan

Hon Hai Precision Industry Co. plans to acquire a determining interest in Hitachi Displays Ltd. for 100 billion yen ($1.2 billion), a Nikkei journal reported currently but saying where it got a information.
Hon Hai is in talks with Hitachi Ltd. as well as Canon Inc., a display-panel makers shareholders, to have a squeeze by two 50 billion-yen in isolation offerings over a subsequent two years, a journal said. The understanding will cut Hitachis interest in a try to thirty percent from 75.1 percent, it said.
Hitachi shares rose 0.5 percent to 410 yen, while Canon gained 1.2 percent to 4,320 yen as of 2:35 p.m. in Tokyo. Shares of Hon Hai were unvaried during NT$117 during a 1:30 p.m. tighten of trade in Taipei. Taiwans benchmark Taiex index added 0.4 percent.
Hitachi has done no such decision, Hajime Kito, a mouthpiece of a company, pronounced by phone today. Edmund Ding, orator for Taipei-based Hon Hai, didnt answer calls to his office as well as mobile phones today. A Tokyo-based orator for Canon declined to comment.
Hon Hai, a flagship of a Foxconn Technology Group, creates Apple Inc.s iPhone as well as iPad, Dell Inc. notebooks as well as Sony Corp. games machines. Hon Hai affiliate Chimei Innolux Corp. became Taiwans largest liquid-crystal arrangement maker by a three-way partnership with its local rivals in March.
Hitachi Displays, that creates arrangement panels during a factory in Mobara, Eastern Japan, uses so-called in-plane switching, or IPS, that offers wider viewing angles as well as clearer picture peculiarity than competing systems, according to its Website.
Chimei Innolux on Jul 1 pronounced it signed a understanding with Hitachi Displays to have panels on contract using a Tokyo-based companys IPS technology.
Foxconn Chairman Terry Gou in Mar completed a three-way $11 billio! n partne rship by Foxconn Groups Innolux Display Corp. unit, a largest for a group given he founded it in 1974. The squeeze of Chi Mei Optoelectronics Corp. as well as TPO Displays Corp. created Miaoli, Taiwan-based Chimei Innolux that operates factories in Taiwan as well as China.

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