Sharp’s board has agreed to a $5.9bn bailout package by Taiwan’s Hon Hai Precision Industry in a deal that would mark the biggest foreign takeover of a Japanese consumer electronics group.
Thursday’s takeover caps a months-long takeover battle that has pitted the Apple supplier, better known as Foxconn, against a Japanese state-backed fund.
The fight between the two buyers had sparked an emotional debate whether the fate of the struggling century-old stalwart of corporate Japan should be left to the forces of global competition or in the hands of a protectionist government.
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