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Business

Sharp buy rests on three Foxconn execs' shoulders

TOKYO -- After many twists and turns, Taiwan's Hon Hai Precision Industry, the world's largest contract electronics manufacturer also known as Foxconn, sealed a deal on April 2 to acquire struggling Japanese electronics maker Sharp.

     Terry Gou, Foxconn's chairman, was born in 1950. He founded business in 1974 and developed it into a world-class company. In extracting concessions from Sharp through clever negotiation, Gou appears to have lost none of his skills. The Taiwanese company eventually agreed to take a controlling stake of 66% in Sharp on a voting rights basis at a cost of 388.8 billion yen ($3.51 billion), about 100 billion yen less than initially planned.

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