Sharp Corp. shares were bid at their daily limit in Tokyo after Foxconn Technology Group and founder Terry Gou agreed to invest 133 billion yen ($1.6 billion) in the TV maker and its display unit to secure flat panels.
The deal, announced after the stock markets closed yesterday, is the largest Japanese investment by a Taiwanese buyer and includes an agreement to purchase as much as 50 percent of Sharp Display Products Corp.’s LCD panels. John Dawson reports on Bloomberg Television's "On the Move Asia" with Rishaad Salamat. (Source: Bloomberg)
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