Foxconn offers to invest around $5.6 billion in Sharp

Sharp's board voted 13-0 to negotiate with Foxconn instead of a state-backed Japanese fund

Taiwan's Foxconn has offered to invest around 659 billion yen ($5.6 billion) in struggling Japanese electronics maker Sharp, two sources with knowledge of the matter said.

Sharp has chosen Foxconn as its preferred bidder in takeover talks. One source said Sharp's board on Thursday had voted 13-0 to negotiate with Foxconn instead of a state-backed Japanese fund, the Innovation Network Corp of Japan.