Hon Hai Precision Industry Co Ltd will not invest in Sharp Corp by a March 26 deadline after the two firms failed to revise an earlier agreement, although the Taiwanese company has not ruled out an investment altogether, a newspaper said. Hon Hai Chairman Terry Gou met Sharp's bankers to inform them no deal would be struck this month but he would look at the merits of an investment after the struggling Japanese display maker unveils a new business plan in the near future, the Asahi newspaper reported without saying where it got the information.Talks for Hon Hai to purchase as much as a 9.9 percent stake had stalled after Sharp balked at its demand that it be given a degree of management control.Hon Hai also sought to lower the $708 million price tag after Sharp's stock slumped in the wake of losses that prompted a bailout from its banks last year.Sharp's banks, which include Mizuho Financial Group Inc and Mitsubishi UFJ Financial Group Inc, had not been expecting a revised deal, sources told Reuters last month.
Mizuho Financial Group, Inc. is a Japan-based bank holding company. Shares of MFG remained unchanged at $4.36. In the past year, the shares have traded as low as $2.80 and as high as $4.68. On average, 723033 shares of MFG exchange hands on a given day and today's volume is recorded at 0.
Mitsubishi UFJ Financial Group, Inc. is a Japan-based company mainly engaged in the banking business. Shares of MTU remained unchanged at $5.65. In the past year, the shares have traded as low as $4.16 and as high as $5.83. On average, 2189570 shares of MTU exchange hands on a given day and today's volume is recorded at 0.
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