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Hon Hai formally offered to invest in Sharp last week: source

[TOKYO] Taiwan's Hon Hai Precision Industry Co offered last week to invest in struggling Japanese display maker Sharp Corp, a source with direct knowledge of the matter said on Wednesday.

Sharp is still trying to turn around its business despite a US$1.7 billion rescue in May, its second major bailout in three years.

Sharp and its main lenders are now considering multiple proposals from Hon Hai, also known as Foxconn, including financing for its display operations and an investment in the overall business, the source said.