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WSJ: Foxconn Offers To Take Over Sharp

Taiwan's Foxconn has offered about 625 billion yen to take over Sharp Corp.(SHCAY.PK), the Wall Street Journal reported, citing people familiar with the matter.

Japanese electronics maker Sharp, which has been bailed out repeatedly by banks, is set to review a competing offer from Innovation Network Corp. of Japan, a government-backed investment fund.

Foxconn and Sharp declined to comment. INCJ couldn't immediately be reached for comment.

The Nikkei newspaper reported this week that the fund was weighing a bid that could top 300 billion yen.

In December, Kyodo News reported that Foxconn, formally known as Hon Hai Precision Industry Co., proposed to buy the struggling Japanese electronics maker for about 300 billion yen or $2.5 billion.

U.S. buyout firm KKR & Co (KKR) is apparently taking an interest in Sharp Corp, Nikkei business reported in December. Japan Display, whose top shareholder is the government-sponsored Innovation Network Corp. of Japan, is looking to acquire Sharp's liquid crystal display business, the Nikkei added.

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