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Electronics Production |
Sharp under pressure to choose Japanese offer
Sharp's board is meeting later this week to weigh the pros and cons of the takeover bids from Foxconn and a – Japanese government-backed – investment fund. However, pressure is building to postpone a decision in order to look closer at the EMS-giants offer.
Sources familiar with the situation told the Wall Street Journal that some of Sharp's outside directors are making a case for the board to have another look at Foxconn's offer – which in fact is higher than the offer from Innovation Network Corp. of Japan.
Even though the Taiwanese company's offer is more than twice as big as the Japanese fund's, it still holds the lead, as Tokyo is not to keen to let Sharp's technology and expertise fall into foreign hands, the report continues.
However, as previously reported, Terry Gou – Foxconn's CEO – is quite confident that Sharp will make a decision in favour of Foxconn.
