Foxconn's bid for ZF stake stalls after due diligence reveals debt, valuation gap
Foxconn's two-year effort to acquire a major stake in a key unit of German auto supplier ZF Group has hit a wall after due diligence conducted by its advisor, JPMorgan, revealed a wide valuation gap and a higher-than-expected debt. Per documents reviewed by Reuters, Foxconn's due diligence concluded that ZF's powertrain technology division, known internally [...]