February 25, 2016 / 9:41 AM / 3 years ago

Foxconn to delay signing of Sharp takeover deal, says to clarify terms

The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in Tucheng, New Taipei city, December 24, 2013. REUTERS/Pichi Chuang/Files

TAIPEI (Reuters) - Taiwan’s Foxconn on Thursday said it would delay the signing of a deal to take over Sharp Corp (6753.T) as the Japanese firm had included new terms that needed to be clarified.

Sharp said earlier in the day that it had agreed to be taken over by Foxconn, marking the largest acquisition of a Japanese tech firm by a foreign company and bolstering Foxconn’s position as Apple Inc’s (AAPL.O) biggest supplier.

Foxconn, known formally as Hon Hai Precision Industry Co Ltd (2317.TW), said that Sharp on Wednesday morning had “couriered over a new key document to the management of Hon Hai.”

Foxconn said it responded to Sharp on the same day that the content needed to be clarified before a deal could be signed.

It hopes to be able to clear up the matter as soon as possible, it said in a statement.

No other details were provided.

(This story corrects spelling of ‘couriered’ in the third paragraph)

Reporting by J.R. Wu; Editing by Edwina Gibbs

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