Hon Hai to up investment offer for Sharp to about $5.9 billion - Yomiuri daily | Reuters - Firstpost
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Hon Hai to up investment offer for Sharp to about $5.9 billion - Yomiuri daily | Reuters

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TOKYO Taiwan's Hon Hai Precision Industry Co is set to offer to invest about 700 billion yen ($5.9 billion) in Japanese display maker Sharp Corp, upping its proposal for a maximum 500 billion yen investment, the Yomiuri daily reported.

Hon Hai, also known as Foxconn, could make the offer, its final proposal, as early as Friday, the Japanese newspaper said on Friday.

Hon Hai and Sharp have been weighing a possible tie-up for months, sources familiar with the situation have said. But Japanese state-backed fund Innovation Network Corp of Japan has been seen as a more likely investor.

(Reporting by Chang-Ran Kim; Editing by Stephen Coates)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Jan 15, 2016 06:15 IST

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