TAIPEI -- Foxconn's lingering attempts to finalize its contested deal to acquire Sharp continued over the weekend, with the Taiwanese ODM/EMS reportedly lowering its already accepted bid due to late revelations of red ink at the Japanese OEM.

Meanwhile, another potential suitor for Sharp has emerged, this time in the form of Samsung.

Foxconn had come to terms with Sharp's board on a 600 billion yen (roughly $6.2 billion) purchase price, only for the closing to be pushed back when billions in off-the-books liabilities came to light.

After multiple high-level meetings, Foxconn (Hon Hai) offered new financial terms to Sharp’s lenders. As reported by Bloomberg, the terms would include a reduction of about 15% in the per-share purchase price. Foxconn would also cut its similar investment in new equity to be issued by Sharp by 10 to 20%, Bloomberg reported, citing the Nikkei newspaper.

Foxconn is declining comment on the reports.

Other sources are now saying Samsung is emerging as a bidder for Sharp, whose display technologies are important to Apple for its iPhone and iPad products. Samsung already has a minor ownership stake in Sharp. 

As Apple's largest rival in the handheld phone business, a Samsung takeover could throw a major snag in the iPhone maker's relationship with Sharp. Its vice chairman visited Japan late last week, but declined to specify the nature of his trip.

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