Foxconn agrees to buy Sharp for $3.5B

March 30, 2016 9:01 AM

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TAIPEI, Taiwan - The Taiwanese company that assembles Apple’s iPhones agreed Wednesday to buy control of financially struggling Sharp Corp. for $3.5 billion in the first takeover of a major Japanese electronics producer by a foreign company.

The agreement by Foxconn followed weeks of uncertainty over what Sharp had said was a deal at a higher price.

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