SHARP ACQUIRES TOSHIBA’S PC BUSINESS

Japan’s display maker Sharp, now owned by the Taiwanese manufacturing giant Foxconn, is buying Toshiba’s troubled PC business. Sharp will pay $36.5 million for an 80.1 per cent stake and also issue $1.8 billion in new shares to buy back preferred stock held by banks that previously bailed out Sharp. The move marks Sharp’s re-entry to PC manufacturing, which it exited in 2010.