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© stevanovicigor dreamstime.com Electronics Production | March 30, 2016

Foxconn cuts its offer for Sharp

The back-and-forth deal between Taiwanese EMS giant, Foxconn, and struggling Japanese tech-firm, Sharp, looks like its back on after being on hold for over a month.
However, it seems as if Foxconn is now set to agree to acquire Sharp, but only after gaining a rather big discount to its original offer. The company is reportedly going to cut its initial JPY 489 billion offer (USD 4.3 billion) for a two-thirds stake in sharp, by about JPY 100 billion (USD 890 million).

Both companies are expected to approve the deal on board meetings which are to be held on Wednesday, the report continues citing unnamed sources.

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