
Foxconn shares to be suspended Wednesday due to “major announcement” - porsupah
http://news.yahoo.com/foxconn-shares-suspended-wed-due-major-announcement-exchange-111816050--finance.html
======
biot
The article hints at a merger, but why would that require suspending trade in
its shares? My first thought went towards Apple making an announcement
regarding its supply chain. However, that too would be business as usual and
subject to a correction once trading is resumed. Maybe Foxconn is filing for
bankruptcy?

~~~
chollida1
FoxConn is announcing whether or not they will buy Sharp, or at least put in a
bid to buy Sharp. They are widely believed to be putting in a bid to buy
Sharp.

Sharp's board agreed on Feb 25th to declare FoxConn the winner of the bidding
process.

Foxconn is now dealing with Sharps creditors to determine how much of a
haircut they'd be willing to tolerate on their debt and preferred shares.

As to why trading will be paused, its because they are having a regularly
scheduled board meeting. There isn't much out of the ordinary here.

It's not uncommon to halt trading when a very material issue may be decided so
that it the case of any leaks everyone will have time to process and react to
the news.

~~~
biot
Right, that's what the article states. Why is trading suspended though? If
Google were set to announce an acquisition of some company, would Nasdaq halt
trading in GOOG?

------
dang
Announcements of announcements are off-topic here.

