Sharp rejects Samsung offer to buy copier business

A woman walks past the Sharp Corp's Logo at a train station in TokyoTOKYO (Reuters) – Sharp Corp rejected an offer by Samsung Electronics Co. to buy its copier and printer unit as part of a deal that will see Samsung invest $ 110 million in return for a 3 percent stake. "We did get a proposal from Samsung, but we declined," said Sharp spokeswoman Miyuki Nakayama. She would not say how much Samsung offered and why Sharp refused. Sharp needs to repay a $ 2.1 billion convertible bond due in September and selling the profitable copier business would help raise cash, but it would also diminish the company's cashflow. …

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