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Sharp meets with Foxconn and Japanese state-backed fund

Jan. 31, 2016 8:52 AM ETSharp Corporation (SHCAY) StockFXCOF, SHCAF, SHCAYBy: Yoel Minkoff, SA News Editor
  • After meeting with Sharp's (OTCPK:SHCAY) board on Saturday, Taiwan's Foxconn Technology (OTC:FXCOF) said it was confident about its ¥625B (about $5.3B) offer for the struggling Japanese electronics maker, and expected the firm to come to a decision within a week.
  • Foxconn's rival in the bid for Sharp, Innovation Network of Japan, is said to be discussing a capital injection of more than ¥300B, and up to ¥350B of financial assistance from the company's two main lenders.
  • Previously: Foxconn proposes detailed offer for Sharp (Jan. 27 2016)
  • Previously: Bloomberg: Sharp said to favor INCJ over Foxconn offer (Jan. 21 2016)

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