Foxconn offers to invest around $5.6 billion in Sharp - sources

Sharp has chosen Foxconn as its preferred bidder in takeover talks. One source said Sharp`s board on Thursday had voted 13-0 to negotiate with Foxconn instead of a state-backed Japanese fund, the Innovation Network Corp of Japan.

Reuters| Last Updated: Feb 05, 2016, 06:06 AM IST

TAIPEI - Taiwan`s Foxconn has offered to invest around 659 billion yen ($5.6 billion) in struggling Japanese electronics maker Sharp Corp, two sources with knowledge of the matter said.

Sharp has chosen Foxconn as its preferred bidder in takeover talks. One source said Sharp`s board on Thursday had voted 13-0 to negotiate with Foxconn instead of a state-backed Japanese fund, the Innovation Network Corp of Japan.