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Sharp accepts Foxconn bailout


Sharp's board of directors has accepted a JPY700 billion (US$5.81 billion) bailout plan proposed by Taiwan-based EMS provider Hon Hai Precision Industry (Foxconn Electronics), according to Japan-based Nikkei News.

The decision means Sharp rejected Japan government-sponsored Innovation Network Corporation of Japan's proposal, Nikkei said.

Foxconn has responded to the decision saying that it will need to clarify all details of Sharp's acceptance before signing any deal.

Trevor Huang, Taipei; Adam Hwang, DIGITIMES [Thursday 25 February 2016]


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