TOKYO -- Shares in Sharp fell for the third straight day on Monday, at one point sliding 5 yen, or 5.4%, from Friday's close to 87 yen, below the 88 yen per share that Taiwan's Hon Hai Precision Industry has agreed to pay to acquire the Japanese electronics manufacturer.
Sharp said there are no plans to change the acquisition terms set by Foxconn, as Hon Hai is also called, but some market watchers are concerned that if Sharp's market cap falls below the planned buyout price, the takeover talks could go back to square one.
Sharp said Friday it logged a net loss of 27.4 billion yen ($267 million) for the April-June quarter, compared with a net loss of 33.9 billion yen a year earlier, citing sluggish liquid crystal display operations.
(NQN)