Taiwan's Hon Hai seals Sharp takeover for US$3.5b

[TAIPEI] Taiwan's tech giant Hon Hai said Wednesday it had finally sealed a takeover of Japanese electronics maker Sharp in a deal worth 389 billion yen (S$4.7 billion).

"Hon Hai and Sharp jointly announce that the two world-class technology industry leaders will form a historic strategic alliance," Hon Hai spokesman Simon Hsing said a joint news statement.

Hon Hai has bought a 66 per cent stake in the company, the statement said.

AFP