Sharp board to decide on bailout deal with Hon Hai Feb. 24: report

Focus Taiwan
Date: 2016/02/19
By: Jalen Chung, Yang Ming-chu and Frances Huang

Taipei, Feb. 19 (CNA) The board of directors of financially-troubled Sharp 201602190024t0001Corp. of Japan is expected to decide on a bailout deal with Taiwan- based manufacturing giant Hon Hai Precision Industry Co. (鴻海) on Feb. 24 at the earliest, Japan’s Nikkei Asian Review reported Friday.

The report said that Sharp will hold a board meeting on Feb. 20 to deliberate the deal with Hon Hai, also known as Foxconn outside Taiwan. It said the meeting will likely yield a decision on whether to accept the bailout plan four days later.

On Feb. 5, Hon Hai Chairman Terry Gou said that he expects his company would sign an agreement with Sharp on Feb. 29. Gou made the remarks when he visited Sharp’s headquarters.     [FULL  STORY]

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