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Sharp and Foxconn to Settle Takeover Soon

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Feb 5, 2016, 9:35 AM   by Eric M. Zeman   @zeman_e

Foxconn expects to seal a takeover deal with Sharp by the end of February. Executives from both companies met on Thursday and agreed on a number of items, but didn't sign any final agreements. Foxconn has been courting Sharp for a while now, and has offered $5.5 billion to buy the company. Sharp is also entertaining an offer from Innovation Network Corp. of Japan, a government-backed fund, but INCJ's offer is much lower than Foxconn's. Foxconn's CEO says the two cleared 90% of the hurdles during Thursday's meeting, but at least one legal issue prevented them from closing the deal. The two CEOs believe they can work out the remaining issues before the end of the month.

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