Japan’s Sharp accepts takeover, Foxconn not ready to sign

Sharp Corp. has announced it will accept a 489 billion yen ($4.4 billion) takeover by Taiwan’s Hon Hai Precision Industry Co., also known as Foxconn, but Foxconn said it is not ready to sign the deal.

Sharp said Foxconn would gain a 66 percent stake in the company under the deal. Sharp had been considering both Foxconn’s bid and an offer from a Japanese government-backed consortium of Japanese investors.

Source : AP

By Harry