Japan's Sharp, banks near $1.7 bln overhaul deal

April 16, 2015 1:15 AM

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TOKYO, April 16 (Reuters) - Sharp Corp and its main banks are to meet on Thursday to agree on a nearly $2 billion rescue and overhaul plan for the loss-making electronics maker, a person involved in the discussions said.

The agreement between the Osaka-based company and its main lenders, Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ, will be Sharp's second big bailout since 2012.

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