Apple partner Foxconn is set to acquire Sharp for roughly 700 billion yen (or $6.2 billion USD), reports Nikkei Asian Review. The outlet says that Sharp's board voted on Thursday morning to accept the offer, and plans to restructure its operations under the Hon Hai umbrella.
The deal, which has not been officially announced yet, comes after years of failed negotiations between the two companies. Foxconn has made several attempts to acquire the struggling electronics giant, or large pieces of it, with the latest offer of $5.3 billion coming in January.