Deals
Sharp Rises on Prospects of Rescue Deal With Japan Fund
- Stock rises as much as 12 percent in Tokyo trading today
- Foxconn is prepared to pay about $5.1 billion for Sharp
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Sharp Corp. shares rose as the company moves toward a rescue plan with government-backed Innovation Network Corp. of Japan rather than a potentially larger offer from Taiwan’s Foxconn Technology Group.
Sharp is learning toward a deal with INCJ that would allow it to keep its technology within Japan and cooperate more closely with domestic companies, people familiar with the talks said Thursday, asking not to be named because the matter is private. The company’s stock rose 3.1 percent at the close in Tokyo on Friday, after earlier climbing as much as 12 percent.