Hon Hai, Banks Agree on Sharp Credit Line to Close Deal: Yomiuri

By
Kevin Buckland
and
Hideki Sagiike
  • 300 billion yen credit line would cover potential liabilities
  • Takeover has stalled since Sharp board accepted it last month

Hon Hai Precision Industry Co. has reached a basic agreement with Sharp Corp.’s banks over a 300 billion yen ($2.7 billion) credit line, according to the Yomiuri newspaper, potentially clearing a hurdle toward a takeover of the Japanese electronics maker.

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