Shares in Sharp surged almost a fifth after Taiwan’s Foxconn said Chinese antitrust authorities have approved its $3.8bn takeover of the struggling Japanese display maker.
The green light from China was the final hurdle for Foxconn, formally known as Hon Hai Precision Industry, to clear in its acquisition of lossmaking Sharp — a deal that had been scheduled to be completed by the end of June.
Shares in Sharp rose as much as 17 per cent to ¥104 on Friday morning in Tokyo after Foxconn released a statement overnight.
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