Gou Goes Direct to Sharp Lenders

‘A person familiar with the talks’ has told the Taipei Times that Foxconn chairman Terry Gou is taking his case for the acquisition of Sharp (Foxconn Ups Sharp Offer) directly to major lenders to the Japanese firm. The sources said that he is trying to pre-empt an alternative deal with Japan’s INCJ.

Gou apparently travelled to Tokyo recently, where he met with Mizuho Financial Group and Mitsubishi UFJ Financial Group, as well as government officials. According to the sources, Foxconn is offering to buy ¥200 billion ($1.7 billion) of Sharp’s preferred stock owned by the banks. In total, Foxconn is offering ¥600 billion ($5 billion) for Sharp, and expects a decision very soon.