SHARP Corp. and Taiwan’s Foxconn are set to sign a takeover deal this week after repeated delays, with the two sides set to agree on a smaller bailout than originally planned for the troubled Japanese electronics maker, two sources said Saturday.

    The two companies will hold board meetings Wednesday to approve the deal and officially sign a deal the following day, said the two sources.

    Foxconn, formally known as Hon Hai Precision Industry Co., is set to cut its earlier 489 billion yen (US$4.3 billion) offer for newly issued Sharp shares by 100 billion yen, the sources said.

    The companies had come close to signing a deal last month but Foxconn hit the pause button following revelations of previously undisclosed liabilities at the Japanese company.(SD-Agencies)