Sharp Turns Down Samsung Bid To Buy Copier Business

2013-03-18 09:48:44

Published on 2013-03-18 09:48:44

Sharp has turned down a bid by Samsung to purchase its copier business.

The proposal would see Samsung invest $110 million in exchange for a three per cent stake, with the copier unit including photocopiers, printers and fax machines.

Speaking to Reuters, Sharp spokeswoman Miyuki Nakayama said: "We did get a proposal from Samsung, but we declined."

The representative would not disclose the exact amount Samsung offered, or the reasons for Sharp's refusal.

Sharp needs to repay a $2.1 billion (£1.4 billion) convertible bond due in September and selling the copier business would enable them to save cash, but diminish the business' workflow.

This news comes after Samsung claimed that it is aiming for B2B to make up a quarter of its overall business by 2020.

ZDNet has reported that Craig Gledhill, Samsung's vice president of enterprise and small and midsize businesses for New Zealand, Australia and Southeast Asia, believes the company's biggest opportunity for growth involves the mobile worker market.

Posted by Barry Ashmore.

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