Sharp board members have decided to give Hon Hai preferred negotiating rights, choosing the Taiwan firm's offer over a rescue plan from a Japanese state-backed fund, a source familiar with the move said on Thursday.
Hon Hai, also known as Foxconn and one of Apple's key iPhone assemblers, offered over 700 billion yen ($5.9 billion) for Sharp, more than double the amount of investment proposed by the fund, according to Japanese broadcaster NHK.
Both Sharp and Hon Hai declined to comment. read the rest here