TOKYO: Sharp Corp announced on Thursday it will accept a $4.4 billion takeover by Taiwan’s Hon Hai Precision Industry, also known as Foxconn, but Foxconn said it was not ready to sign the deal. “We will have to postpone any signing of a definitive agreement until we have arrived at a satisfactory understanding and resolution of the situation,” Foxconn said in a statement. It did not elaborate. If the deal goes through, Sharp would become the first major Japanese electronics maker to be acquired by a foreign company. Foxconn is a major contractor to Apple Inc, assembling products such as iPhones. Sharp chose Foxconn as its preferred partner in a two-day board meeting ending on Thursday.
Sharp accepts bid
Published: 08:04 am Feb 26, 2016