Foxconn, Sharp Said to Weigh Revising Terms of Approved Deal

Taiwan’s Foxconn Technology Group and Sharp Corp. worked through the weekend to salvage their proposed $6 billion deal with one potential outcome being a revision to terms the Japanese company’s board approved just last week, according to people familiar with the matter.

Bankers and lawyers are going through a list of Sharp liabilities that could exceed 300 billion yen ($2.6 billion), a last-minute stumbling block in Foxconn’s effort to take control of the struggling Japanese company, according to the people, who asked not to be identified as the talks aren’t public. It’s too early to tell whether Foxconn will lower the value of its offer for Sharp or change its bid in some other way, said the people. Any material change to the offer would require Sharp’s board to vote again on the Foxconn proposal, the people said.