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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

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