Deadline for Hon Hai to invest in Sharp lapses with no deal

A man looks around Sharp's TV sets at an electronic shop in TokyoTOKYO (Reuters) – The deadline for Hon Hai Precision Industry Co to buy a stake in Sharp Corp lapsed Tuesday without any deal, ending an agreement forged last year that would have made the Taiwanese firm the No.1 shareholder in the Japanese TV maker. Talks for Hon Hai to purchase as much as a 9.9 percent stake stalled after Sharp balked at its demand for a degree of management control. Hon Hai also sought to lower the $ 708 million price tag after Sharp's shares slumped in the wake of losses that prompted a bailout from its banks last year. …

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