Foxconn has reportedly made an offer to buy Sharp for $5 billion. Sharp has been struggling in the recent past and it is considering another significant offer from the Innovation Network Corporation of Japan, a government-backed entity.

A bid from a government-backed entity that's located in Japan could have more support from regulators since it would help Sharp remain a Japanese company. Though, Foxconn says it would not replace the top management at Sharp, which may ease some concerns from officials.

Sharp has not said much about any sale of its divisions or investments from other companies, but it has acknowledged discussions are taking place.