TOKYO (Reuters) - Japan's Sharp Corp (T:6753) and Taiwan's Foxconn agreed on Friday to extend a deadline for takeover talks by one or two weeks beyond Monday's planned expiry, a person familiar with the matter said.
Foxconn, a major supplier to Apple Inc (O:AAPL) and known formally as Hon Hai Precision Industry Co (TW:2317), has been Sharp's preferred candidate for a rescue deal.
Sharp on Thursday announced it had decided to sell a two-thirds stake to Foxconn, but the Taiwanese firm put the deal on hold until it could clarify what it called "new material information" from Sharp.
Sources said the last-minute hitch was due to previously undisclosed liabilities at Sharp.