Sharp Corp said on Monday it had not set a specific deadline for finalizing a takeover deal with Taiwan’s Foxconn, adding it aimed to do so “as soon as possible.”
The embattled Japanese display maker issued the statement in response to a weekend report in the Nikkei business daily that it was aiming to seal an agreement with Foxconn, formally known as Hon Hai Precision Industry Co, on March 7.
A person familiar with the matter has told Reuters the firms agreed to extend a deadline for takeover talks by 1-2 weeks, after the Taiwanese firm had put the deal on hold to clarify “new material information.”
For more on this story, read: Sharp Just Agreed to a Takeover—But Buyer Foxconn Backed Off