Hon Hai Made Offer For Sharp: report
Hon Hai Precision Industry last week made an official offer to invest in struggling display maker Sharp, Reuters reports.
Sharp is trying to turn around its business despite a $1.7 billion rescue in May, its second major bailout in three years.
The company is now considering multiple proposals from Hon Hai, also known as Foxconn, including financing for its display operations and an investment in the overall business, the report said.
Hon Hai and Sharp have been weighing a possible tie-up for months, sources familiar with the situation have said. But Japanese state-backed fund Innovation Network Corp of Japan (INCJ) is widely seen as a more likely investor.
INCJ is the biggest shareholder in Sharp's domestic rival Japan Display Inc, and sources have said it has an eye on brokering a merger or partnership between the two companies.
Sharp declined to confirm the report.
Tie-up talks between Hon Hai and Sharp fell through in 2012 after the Japanese company baulked at demands that it said would have given the Taiwanese firm too much control.
The company is now considering multiple proposals from Hon Hai, also known as Foxconn, including financing for its display operations and an investment in the overall business, the report said.
Hon Hai and Sharp have been weighing a possible tie-up for months, sources familiar with the situation have said. But Japanese state-backed fund Innovation Network Corp of Japan (INCJ) is widely seen as a more likely investor.
INCJ is the biggest shareholder in Sharp's domestic rival Japan Display Inc, and sources have said it has an eye on brokering a merger or partnership between the two companies.
Sharp declined to confirm the report.
Tie-up talks between Hon Hai and Sharp fell through in 2012 after the Japanese company baulked at demands that it said would have given the Taiwanese firm too much control.
