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Foxconn misses June target to finish Sharp takeover

Hon Hai had planned to finish its acquisition of Sharp last month.

OSAKA -- Taiwan's Hon Hai Precision Industry was unable to complete its acquisition of Sharp in June as intended, thwarted by a time-consuming antitrust review in China.

The delay deals a blow to Sharp's plans to install new management and start the rebuilding process quickly. A grimacing Sharp insider said the ailing Japanese electronics giant had hoped to get the capital injection in June to bring the company's assets above its liabilities, then put the new management structure in place July 1.

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