Foxconn proposes detailed offer for Sharp: source

A man walks past a logo of a Foxconn factory in Wuhan, Hubei province, in this August 31, 2012 file photo. Taiwan's Hon Hai Precision Industry Co has offered 625 billion yen ($5.3 billion) to buy Sharp Corp and has no plans to replace top management, a gesture aimed at reassuring Japanese authorities worried about an overseas takeover, the Wall Street Journal reported. REUTERS/Stringer/Files CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA

TOKYO: Taiwan's Foxconn has detailed its offer for troubled electronics maker Sharp Corp, a person with direct knowledge of the talks said, potentially complicating a rescue bid led by a Japanese state-backed fund. 

Innovation Network Corporation of Japan (INCJ), still seen as a front runner, will go head-to-head with Foxconn in the bidding for Sharp, and its third bailout in under four years.