It said that along with Hon Hai, which goes by the trade name Foxconn, trading will also be halted in shares of affiliate Foxconn Technology Co (2354.TW). A trading halt is customary for listed companies in Taiwan ahead of announcements which may affect trading.
Hon Hai is holding a board meeting and Wednesday and is expected to announce the acquisition of Sharp.
Sharp had reportedly accepted a $5.8 billion takeover offer from Foxconn last month; however, the deal was derailed after Foxconn discovered a massive $2.7 billion in undisclosed liabilities.
It's likely that the two companies have agreed on a smaller bailout than originally planned.