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Japan : Hon Hai chief says deal to buy Sharp shares is good value
Publish Date : 07-Jun-2012
The chairman of Apple Inc\'s major supplier Hon Hai Precision Industry Co was quoted as saying on Wednesday that a deal to buy shares of Japan\'s Sharp Corp was a good value.
TV reports quoted Hon Hai Chairman Terry Gou as making the remark in response to a comment by a Goldman Sachs analyst. The analyst had said Hon Hai might request a review of the deal after Sharp\'s share price dropped to its lowest in 34 years.
Hon Hai agreed in March to purchase new shares in Sharp worth US$844 million as part of a tie-up in liquid crystal display production aimed at reversing losses at the Japanese firm from declining TV sales.
