Hon Hai, which makes smartphones, cloud computing equipment and robots, wants to fund Foxconn Industrial Internet projects in areas from smart manufacturing to fifth-generation wireless technologies.
The deal is transformative for Wabtec, which will roughly double its annual revenue.
The criticisms are a setback for the group’s heir apparent -- Vice Chairman Euisun Chung -- as he prepares for Korea’s biggest proxy fight since Samsung Group narrowly defeated a controversial merger of two units nearly three years ago.
CEO Jeff Jacobson will step down along with several other board members.
“We don’t know if the deal is back on. There’s something happening behind the scenes, which does not raise confidence in the deal or the company,” a Bloomberg analyst said.
But by the end of Tesla’s first-quarter conference call, Musk was berating analysts, the shares had plunged and any shred of predictability was out the window.