The Bank of Tokyo-Mitsubishi UFJ (BTMU) decided Monday to set a new credit line for Sharp Corp., sources familiar with the matter said, as the struggling electronics maker seeks to sign a takeover deal with Taiwan’s Hon Hai Precision Industry Co.
Sharp’s other major creditor bank, Mizuho Bank, is also expected to make its own decision on Wednesday, bringing the total amount of loans that can be extended to ¥300 billion ($2.64 billion).
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