Sharp said it's still in talks with Hon Hai Precision Industry on their earlier announced partnership, including a capital injection from the Taiwanese manufacturer. Sharp said the companies aim to reach a "satisfactory agreement as soon as practically possible" but had nothing further to add in response to the latest press reports. Hon Hai said earlier that it would hold a board meeting 30 March as scheduled, but whether the board would discuss the Shapr deal would depend on the progress in the negotiations.
The Nikkei reported earlier that the companies plan to approve the deal at board meetings 30 April. Sources familiar with the matter told Bloomberg that Sharp's banks are willing to push back the deadline of 31 March for some of the company's loans coming due. They could give the companies another month to negotiate the deal, the report said. Hon Hai, also known as Foxconn, agreed a month ago to buy Sharp for more than JPY 600 billion, but has held off on signing a final agreement while its advisers scrutinize the company’s finances.
