Memory FAQs
 
Home
News
Products
Shop
Memory
Corporate
Contact
 

News
Industry News
Publications
CST News
Help/Support
Member Area
Tester Brochure
Demo Library
Software
Tester FAQs

biology medicine news product technology definition

Friday, November 24, 2017
Memory Industry News
Email ArticlePrinter Format PreviousNext

Bidding gets interesting when Bain/Hynix group offer $22.3 billion


Tuesday, September 12, 2017

A group including Bain Capital and South Korea’s SK Hynix (000660.KS) has raised its offer for Toshiba Corp’s (6502.T) chip business to 2.4 trillion yen ($22.3 billion) including a 200 billion yen investment in infrastructure, sources familiar with the matter said.

The offer by the consortium, which is led by the U.S. private equity group and the South Korean chipmaker as well as Japanese state-backed investors, was higher than an initial offer of around 1.94 trillion yen, according to the sources who requested anonymity because the talks were confidential.

Bain and SK Hynix representatives were not immediately available for comment, while Toshiba declined to comment on details of the deal negotiations. 

The move comes after sources said Western Digital Corp (WDC.O), which was part of a competing group in final-stage talks with Toshiba, had revised its offer.

The sources said the U.S. company would take a step back from the initial financing consortium to address Toshiba’s concerns that a Western Digital stake could lead to prolonged anti-trust reviews.

It was unclear what its latest offer was, but sources previously said it was offering around 1.9 trillion yen.

Toshiba is desperate to sell the unit and cover billions of liabilities at its U.S. nuclear unit Westinghouse. Last week it said it was considering three competing offers including one led by Taiwan’s Hon Hai (2317.TW), also known as Foxconn.

All three bidder groups have roped in Apple Inc (AAPL.O) to bolster their offers, sources have said.

Under their latest offer, Bain and SK Hynix offered to provide a combined total of around 567.5 billion yen, while Apple Inc would provide 335 billion yen, according to sources. Toshiba would keep 250 billion yen in the business, they said.

U.S. technology firms and other Japanese companies were also expected to provide funding, while major banks were expected to provide a total of around 600 billion yen in funds, the sources said.

Bain would have 49.9 percent of initial voting rights in the memory chip business, while Toshiba would have 40 percent and Japanese firms would have 10.1 percent, the sources said.

Toshiba’s board is due to meet on Wednesday to consider the offers, sources said.

By: DocMemory
Copyright © 2017 CST, Inc. All Rights Reserved

Email ArticlePrinter Format PreviousNext
Latest Industry News
Broadcom to tape out 7nm devices11/24/2017
SPIL to build new plant in Fujian, China11/24/2017
Meg Whitman steps down from HPE11/24/2017
FCC Chairman wants to overhaul open Internet rules11/24/2017
Goepel Electronics offers boundary scan method for testing memory modules11/22/2017
Toshiba is inching towards a settlement with Western Digital11/22/2017
Chinese government continue to invest big into Semiconductor11/22/2017
Qualcomm put IIoT projects in Taiwan on hold11/22/2017
Samsung: "Data is new oil,11/21/2017
Founder of SMIC to establish pure play CIDM in China11/21/2017

CST Inc. Memory Tester DDR Tester
Copyright © 1994 - 2017 CST, Inc. All Rights Reserved