Taiwanese EMS-giant Foxconn has made an offer to acquire Japanese electronics company Sharp for about USD 5.3 billion.
Sharp, which hasn’t been doing all to well over the years, has been bailed out repeatedly by banks. The company recently received a competing offer from Innovation Network Corp. of Japan – a government-backed investment fund – of USD 2.56 billion, according to a report in the Wall Street Journal.
Sharp is reportedly leaning more towards accepting the offer from INCJ, the report continues citing a person familiar with the matter. A report in Bloomberg also states that the Sharp is considering accepting the rescue the government-backed investment fund over the bigger offer from Foxconn.
Letting Sharp come under foreign control is something Japanese officials have expressed concerns about, the WSJ report continues.
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