Taiwan's Hon Hai Precision Industry Co. is considering cutting its takeover bid for ailing Sharp Corp. by ¥100 billion ($895 million) to ¥200 billion, sources familiar with the matter said Tuesday.
Hon Hai, better known by its trade name Foxconn, is weighing the change to reflect future financial risks facing Sharp, the sources said, raising the possibility its bid could end up being lower than the ¥300 billion offered by the Innovation Network Corporation of Japan, a state-backed fund.
Hon Hai's bid includes a ¥489 billion cash infusion.