Deals
Foxconn Delays Sharp Deal to Get More Clarity on Financial Performance
- A final takeover agreement may not be signed this month
- Foxconn has asked Sharp and its auditor for more information
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Sharp Corp. shares fell in Tokyo as Foxconn Technology Group is said to delay finalizing a takeover agreement amid questions over the Japanese electronics maker’s performance in the current quarter.
Foxconn, which agreed to pay more than 600 billion yen ($5.3 billion) for control of Sharp, has asked the Osaka-based company and its auditor for the latest financial results, said people with knowledge of the matter, who asked not to be identified because the matter is private. Sharp closed 12 percent lower, the biggest decline in almost three weeks.