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takyon [soylentnews.org] writes:

Foxconn will take over the electronics maker Sharp [theregister.co.uk] for about 20% less than it was willing to pay previously [soylentnews.org].

Chinese iPhone assembler Foxconn is to swallow Japanese monitor biz Sharp for ¥389bn (£2.5bn) – around £625m less than it had previously been willing to cough up. Under the terms of the deal, Foxconn's daddy Hon Hai will gain a controlling stake of 66 per cent in Sharp.

The takeover beat a proposal by the Japanese government to bail out the ailing company with a state-backed fund. According to the Japan Times [japantimes.co.jp], Sharp is expected to report a loss of ¥200bn (£1.2bn) for its fiscal year 2015. Last month the long-awaited merger [theregister.co.uk] was put on hold after the Japanese outfit passed new info to Foxconn, reported to show a 300 billion yen ($2.7bn) liability in its accounts.

Also at BBC [bbc.com], NYT [nytimes.com], and Reuters [reuters.com].

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