Deals
Sharp Shares Untraded, Bid at Limit in Tokyo After Foxconn Deal
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Sharp Corp. shares were bid at their daily limit in Tokyo after Foxconn Technology Group and founder Terry Gou agreed to invest 133 billion yen ($1.6 billion) in the TV maker and its display unit to secure flat panels.
The shares weren’t traded and bid at 570 yen as of 9:49 a.m. in Tokyo, compared with yesterday’s closing price of 495 yen. Buy bids outnumbered sell offers about 4-to-1 after Foxconn agreed to pay an 11 percent premium to buy the stock.