TOKYO: Foxconn Technology Group and Sharp Corp are aiming to sign their US$6bil takeover agreement as early as Monday after deciding the deal won’t require major changes, according to people familiar with the matter.
The two sides have been going through a list of potential liabilities and concluded they will be much less than initial concerns they could exceed 300 billion yen (US$2.6bil), said the people, who asked not to be identified because the matter is private. That would pave the way for Foxconn to proceed with its proposed deal of paying about 500 billion yen for a majority stake in Sharp, along with additional payments for preferred shares.