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Taiwan’s Foxconn buying Japanese electronics pioneer Sharp for $3.5 billion

Foxconn is getting a 66 percent stake in Sharp, paying $3.5 billion, down from a previously announced $5.5 billion, after Foxconn learned of $3 billion in potential Sharp liabilities.

“After years of stalled and failed negotiations, the boards of Foxconn Technology Group and Sharp Corp. agreed Wednesday to a majority takeover of Japan’s Sharp by Taiwan electronics assembly giant Foxconn. The 103-year-old Sharp makes a wide array of consumer electronics for the Japanese market, but is mostly known outside Japan for its TVs and smartphone displays.”

Read More at The Week Magazine