Hon Hai Precision, Sharp fail to strike ownership deal

(Credit: Sharp)

Apple supplier Hon Hai Precision Industry couldn't reach a finalized agreement to acquire a stake in Sharp, according to a new report.

Hon Hai chairman Terry Gou met with Sharp in Japan recently to try to hammer out a deal that would see his manufacturing company take a minority stake in Sharp. However, according to Reuters, which cited reports out of Japan, the companies could not come to a deal.

Under terms of the deal, Hon Hai would become Sharp's largest shareholder.

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