A deal that would’ve brought together two major Apple suppliers has apparently been put on hold. Late on Wednesday, financially troubled Japanese electronics company Sharp—which is known for its display manufacturing prowess—announced that it had agreed to be acquired by Taiwan-based Foxconn, a large contract manufacturer that has a major role in the production of Apple’s iPhone.
According to a statement by Sharp [PDF], the plan would have seen Foxconn buy the company’s shares, worth roughly $5.25 billion. In all, the deal had been estimated to be worth just over $6 billion.
That statement by Sharp was rebutted, just hours later, by Foxconn.