Hon Hai fined over Sharp deal

Taiwan News
Date: 2016-03-04
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – The Taiwan Stock Exchange fined Hon Hai Precision Industry Co., Ltd. NT$30,000 (US$915) for being late and incomplete with information about its plans to buy Japan’s Sharp Corporation, reports said Friday.

The takeover has been in the works for years, but came closer to reality last month as the ailing Japanese firm announced it was preferring Hon Hai’s offer over a bid by a Japanese government-backed group. However, the Taiwanese technology giant later said it had found unexpected elements in Sharp’s statements which needed a closer look.

The latest reports have Hon Hai and Sharp inking a deal early next week, possibly Monday. Hon Hai Chairman Terry Gou, Taiwan’s second wealthiest person according to a recent Forbes list, was reportedly already in Japan to sign the deal.     [FULL  STORY]

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