HOLD THE PHONE….
Just when you thought it was safe to read this article, a NEW PIECE has just come out suggesting the deal will, in fact, in all likelihood, go though.
And now here’s the article you originally came here to see…
The following appears on wsj.com
EVA DOU in Beijing, WAYNE MA in Hong Kong and TAKASHI MOCHIZUKI in Tokyo – Updated Feb. 25, 2016 – Board members of struggling Japanese electronics maker Sharp Corp. met Thursday and agreed to sell the company to Taiwan’s Foxconn Technology Group for almost $6 billion, a decision hailed as a symbol of a push by Japan’s government to open up the country’s notoriously insular industries.
Sharp Senior Vice President Mike Marusic Recognized as 2016 CRN® Channel Chief
There was a snag. Foxconn, which assembles most of Apple Inc.’s iPhones, was having second thoughts. In a written statement released hours later, Foxconn said it would delay signing any deal because it had been surprised by new information Sharp had disclosed just a day before, and needed more time to study the details.
The surprise was a list of about 100 items of contingent liabilities—or potential future financial risks at Sharp totaling roughly ¥350 billion, or $3.1 billion—that Foxconn would assume if it completed the takeover, people familiar with the matter said. While Foxconn said it hoped to resolve the matter quickly and complete the deal, the 11th-hour development was symbolic of topsy-turvy negotiations in which the foreign suitor outmaneuvered a Japanese government-backed fund to win over one of the country’s most venerated brands.
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