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Last-minute bid for Toshiba chip unit - source

Wednesday, August 30, 2017 - 01:06

A consortium led by Bain Capital and including Apple Inc has offered a revised last-ditch bid for Toshiba Corp's prized memory chip unit worth about 2 trillion yen ($18.2 billion), a source with direct knowledge of the matter said. Ciara Lee reports.

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Welcome to the party, Apple. Sources say a consortium led by Bain Capital has offered a revised last-ditch bid for Toshiba Corp's prized memory chip unit. The bid is said to be worth about 2 trillion yen or 18.2 billion dollars. Apple - a key client for Toshiba - is a new member of the consortium, which also includes South Korean chipmaker SK Hynix It comes as sources say talks between Toshiba and a Western Digital -led consortium have stalled. They say the two sides are unlikely to reach a deal by their self-imposed deadline of Thursday due to bickering over Western Digital's future stake. Japanese media has said that under the new proposal, Bain and Toshiba would both hold 46 percent each of the unit. Toshiba has been trying to sell the chip business for months to help cover the impact of billions of dollars in liabilities linked to U.S. nuclear arm Westinghouse. So far there has been no comment from Toshiba, Bain or Apple.

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Last-minute bid for Toshiba chip unit - source

Wednesday, August 30, 2017 - 01:06