Foxconn to buy 66% stake in Sharp for $3.5 bn
Taiwan-based Foxconn on Wednesday agreed to acquire a 66% stake in Japanese electronics major Sharp for $3.5 billion. This is over $2.7 billion less than Foxconn's  $6.24 billion bid in February to take over Sharp which got delayed following the emergence of previously undisclosed liabilities in Sharp. Foxconn also has the option of increasing its stake in Sharp next year. 