Sharp - Foxconn Decision in Next Two Weeks

Watching this deal unfold... We probably won't know anything different or new until the deal is done in a couple of weeks.

From The Wall Street Journal

TAIPEI—A decision on a takeover of Sharp. Corp. by Taiwanese iPhone assembler Foxconn Technology Group will be announced in two weeks, Foxconn Chairman Terry Gou said, saying he had just finished three days of discussions with the Japanese tech company.

Sharp is considering bids from Foxconn and Innovation Network Corp. of Japan. Foxconn last month raised its offer to ¥659 billion ($5.5 billion), according to people familiar with the matter. That compares with an offer from INCJ that these people say is worth no more than ¥300 billion.

Mr. Gou declined to comment on the discussions, saying the companies had agreed to a quiet period until the end of the month. He also declined to comment on reports that some Sharp board members who favor Foxconn’s bid may be excluded from the final vote.

“I can say that 99.9% of reports out there are speculation or rumors purposefully made up that are very different from the real situation, that is all I can say,” Mr. Gou told reporters.

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