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Sharp accepts Hon Hai's $6.2bn buyout offer

OSAKA/TOKYO -- Sharp's board on Thursday morning decided to accept a roughly 700 billion yen ($6.2 billion) takeover offer from Taiwan's Hon Hai Precision Industry. 

     The Japanese electronics maker intends to restructure its operations under the umbrella of the Taiwanese contract manufacturer, also known as Foxconn. Details of the arrangement have yet to be announced.

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