Sharp and Foxconn deal will go through

sharp2Sharp and Foxconn are set to sign a takeover deal next week after repeated delays.

Word on the street is that the two sides are set to agree on a smaller bailout than originally planned for the troubled Japanese outfit.

The two companies will hold board meetings on Wednesday to approve the deal and officially sign a deal the following day.  Of course both sides are officially saying nothing.

The companies were close to signing a deal last month but Foxconn hit the pause button after discovering there were some liabilities that no one had warned it about before.

The deal is set to be the largest acquisition by a foreign company in Japan’s insular technology sector.

The Tame Apple Press is focusing on the fact that it will boost Foxconn’s position as Apple’s main contract manufacturer and provide Sharp with funds to start mass-producing organic light-emitting diode (OLED) screens by 2018, around the time Apple will claim to have invented the technology for its iPhones.