OSAKA -- Taiwan's Hon Hai Precision Industry appears to have the inside track to rescue Sharp, though the ailing Japanese company says it is still weighing an alternative bailout offer.
Sharp's board discussed the takeover bid from Hon Hai, also known as Foxconn Technology, at a meeting on Thursday. The state-backed Innovation Network Corp. of Japan has also put forward a rescue plan. But the Taiwanese contract manufacturer sweetened its offer in late January. Sources said this has prompted more Sharp executives to lean toward Hon Hai.
Sharp President Kozo Takahashi is to meet the press on Thursday afternoon to announce Sharp's earnings for the April-December period. He is expected to say that the company will continue negotiations with both Hon Hai and INCJ simultaneously.