FOXCONN BAGS BELKIN FOR $866 MN

Taiwan’s Foxconn is the latest to acquire a major American firm as its subsidiary is buying consumer electronics and smartphone accessories maker Belkin for $866 million. It will also own Belkin’s other businesses, including wireless chargers, Linksys Internet routers and smarthome system WeMo. However, the deal must be approved by the Committee on Foreign Investment in the US.