Sharp to buy Toshiba’s PC business and issue $1.8 billion in new shares

Sharp to buy Toshiba’s PC business and issue $1.8 billion in new shares

Japan’s Sharp said it will buy Toshiba’s personal computer business and issue $1.8 billion in new shares to buy back preferred stock from banks, highlighting a swift recovery under the control of Foxconn. The acquisition of the PC business for $36 million marks a return by Sharp to a market it quit eight years ago, even if its comparatively low cost underscores dwindling demand in a world where many consumers spend more money on their…

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