Reuters: Japan fund makes late move to thwart Hon Hai in Sharp battle: sources

The logo of Sharp Corp is seen at Tochigi plant in Yaita, north of Tokyo, November 19, 2015. REUTERS/Reiji Murai

“A Japanese state fund is making a final effort to secure a takeover of Sharp Corp (6753.T) as the ailing electronics maker considers a higher $5.8 billion offer from Taiwan’s Foxconn (2317.TW), criticizing the composition of the company’s board, sources said.

Innovation Network Corporation of Japan (INCJ) officials are taking issue with two of Sharp’s board members who they believe have a conflict of interest as they represent a fund that holds preferred shares in the electronics company, according to the sources familiar with the fund’s complaint………”

Source:   REUTERS – http://www.reuters.com/article/us-sharp-restructuring-incj-idUSKCN0VQ1U9

 

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