Hon Hai, Sharp to sign final deal next week: sources

Focus Taiwan
Date: 2016/03/26
By: Yang Ming-chu and Frances Huang

Tokyo, March 26 (CNA) The on-again off-again pursuit of venerated Japanese electronics giant Sharp by a Taiwanese electronics manufacturing services provider appears set to finally come to a conclusion next week, sources close to the deal told the CNA Saturday.

The sources said Sharp is leaning toward accepting a revised proposal by Hon Hai Precision Industry Co. (鴻海) to invest 389 billion yen (US$3.44 billion) in the financially ailing Japanese company, down 100 billion yen from its original offer.

Japanese media said the new offer would still give Hon Hai a 65.9 percent stake in Sharp, as was called for in the previous offer.

Hon Hai’s original commitment to spend an addition 100 billion yen to buy preferred shares Sharp issued to its major credit banks will also remain unchanged, according to Japanese media.     [FULL  STORY]