There were some rumours that Samsung jumped into the race, but it looks like Sharp has accepted Foxconn's offer and will be acquired for $6.2 billion. The company will acquire two-thirds of Sharp, which is the largest acquisition of a Japanese tech firm by a foreign company.

Foxconn has initially offered about $5.3 billion, then raising to $5.9 billion before they offered the latest $6.2 billion.

This deal makes Foxconn the biggest Apple supplier, since Sharp was one of Apple's main suppliers of iPhone displays. The full details about the acquisition should be released soon, including an estimated closing date.