Foxconn close to $6-billion Sharp takeover deal

Foxconn Technology Group and Sharp Corp are aiming to sign their $6-billion takeover agreement as early as Monday after deciding the deal won't require major changes.

The two sides have been going through a list of potential liabilities and concluded they will be much less than initial concerns that the liabilities could exceed 300 billion yen ($2.6 billion), said the people familiar with the matter. That would pave the way for Foxconn to proceed with its proposed deal of paying about 500 billion yen for a majority stake in Sharp, along with additional payments for preferred shares.

Foxconn Chairman Terry Gou has pursued Sharp since at least 2012 and had appeared on the verge of grasping his prize when the Japanese company's board approved his deal last week. That information is about contingent liabilities that the company could incur through lay-offs or restructurings, people familiar with the matter have said.