Foxconn Technology Group has offered about ¥600 billion to buy struggling electronics maker Sharp Corp., according to a person familiar with the talks, in what could mark the largest acquisition since 2009 for the assembler of Apple Inc.'s iPhones.
A decision to accept or reject the bid is expected before the end of January, the source said, asking not to be identified as the discussions are private.
However, Sharp is leaning toward accepting a rescue bid by the government-backed Innovation Network Corp. of Japan despite its reportedly lower offer, according to two people familiar with the talks. A deal with INCJ would allow Sharp to keep its technology within Japan and cooperate more closely with domestic companies, said the people, who asked not to be named because the matter is private.