It appears that I was wrong (would “dead wrong” be more accurate?) in mylast post. Its title was: “Why Sharp Is Being Rescued By Japan Inc. And Taiwan’s Hon Hai (Foxconn) Rebuffed.”
On Friday, Hon Hai Precision Machinery (Foxconn)’s chairman Terry Gou spent over eight hours in meetings with Sharp Corporation’s president, Kozo Takahashi at Sharp’s Osaka headquarters, during which Gou pitched his 700 billion yen ($5.8 billion) rescue-acquisition and restructuring plan for Sharp.
Emerging from the meetings, Gou announced to the press that he and Sharp had signed an agreement giving Hon Hai “favored” position in negotiating a final acquisition agreement. Gou indicated that his offer would be available to Sharp only until Feb. 29, which had been agreed with Sharp as the deadline for reaching final agreement. He added that agreement had already been reached on 90% of matters, suggesting that remaining issues will be easily resolved. read the rest here