Feb 22, 2016

    Japan's Sharp may decide on 2 takeover bids on Thursday


    SHARP Corporation plans to choose between rival rescue offers as soon as Thursday, as a favoured bid from Taiwan's Foxconn continues to be challenged by a Japanese state-backed investment fund, people with direct knowledge of the matter said.

    The board of the ailing electronics maker met on Saturday to discuss the two takeover proposals, according to the sources.

    Sharp said this month it was devoting more resources to studying a deal with Foxconn, an Apple supplier.

    The Taiwanese firm, the world's largest electronics assembler, has offered to invest 659 billion yen (S$8.2 billion), far more than the 300 billion yen proposed by state-backed Innovation Network Corp of Japan.