“A consortium led by Bain Capital has made a revised last-ditch offer for Toshiba Corp’s chip unit worth about $18 billion, bringing in Apple Inc to help bolster its bid, sources with direct knowledge of the matter said,” Kentaro Hamada and Taro Fuse report for Reuters. “The new offer comes as separate sources say the embattled Japanese conglomerate and Western Digital Corp are struggling to strike a deal ahead of their self-imposed deadline of Thursday.”
“Toshiba has been scrambling to sell its flash memory unit – the world’s No. 2 producer of NAND chips – to cover billions in losses at its bankrupt U.S. nuclear business Westinghouse,” Hamada and Fuse report. “The [Bain Capital consortium’s] revised offer is worth some 2 trillion yen ($18.2 billion). Bain and South Korean chipmaker SK Hynix Inc will be responsible for 1.1 trillion yen, while Apple will provide up to 400 billion yen and Japanese banks will give around 600 billion yen in support, one of the sources said. The proposal also calls for Toshiba to be part of the deal, investing 200 billion yen, the source said.”
“The bid trumps the 1.9 trillion yen offered by the Western Digital-led consortium, which also includes U.S. private equity firm KKR & Co LP. Banking sources have previously said, however, that Western Digital was working to get its proposal up to 2 trillion yen,” Hamada and Fuse report. “Bain’s revised bid was first reported by Japanese broadcaster NHK which said it would be structured so that Bain and Toshiba would each hold 46 percent of the unit.”
Read more in the full article here.
MacDailyNews Take: It’s a bidding war!
SEE ALSO:
Apple and Amazon to back Foxconn on Toshiba chip bid, Hon Hai Chairman Terry Gou says – June 5, 2017
Apple may bid for big stake in Toshiba – April 17, 2017
U.S. suitors get major advantage as Japan to vet bidders in Toshiba chip sale over national security risks – March 10, 2017
[Thanks to MacDailyNews Readers “Fred Mertz” and “Dan K.” for the heads up.]
Remember when Dem/Lib/Progs were hysterically shrieking about how Bain Capital was Lucifer on earth?
SMH
Never forget: When to comes to hyperbolic disingenuous Dem/Lib/Progs, everything is the utmost tragedy to be exploited for furthering their ambitions for statist, globalist control. Just watch them elevate some issueg or some incident one week, then drop it for a new one the next. Death by a thousand cuts is their modus operandi. Embrace, exploit, exhaust. Repeat ad nauseam.
First, Last and Always a poliTard propagandist.
:-Q*****
How about sticking to the topic instead of infecting MDN with PoliTard crap?
It is just an application of the rules of thumb for debates with folks from your nation.
1. Insult the person.
2. Distract from the main issue.
3. Never ever deal with the issue at hand.
You are the exception Derek. There are a few here thank goodness.
Maybe we could have an ignore baby bot day, or better yet, an ignore a Road Warrior week.
I’m beginning to think that “First 2014, Then 2016” is sponsored by the Russian government. No-one with a real job would have the time this troll has to constantly find a way to turn every post into an anti-liberal diatribe.
We *cough* ‘enlightened’ thinkers are in good number here. I have lots of nice chats here! I don’t mind being exposed to the latest list of Talking Points propaganda from whoever. Just so long as I can interject my point of view as well. Humans are contentious. I don’t see that ever changing. Bashing each other with contentiousness without killing each other is just fine with me. I find that learning how to discover, establish and express one’s point of view / opinion is critical for a full, well rounded human. Being able to discern crap from merely different opinions is a critical skill. Being able to stand up while being hammered down by other people’s opinions is a terrific skill, well worth the bruises and scars along the way.
Your other points:
– I’m enjoying an ‘ignore baby bot’ month at the moment.
– A few reasons why I’m more amenable to the British point of view are that I’m a dual citizen with the UK by way of my Father, I spent a year living and working in London, I grew up with British culture via my Father and Granny, I have a number of friends in the UK from casual to close. I’m also (albeit slowly) putting together a story series based around a South Londoner within an alternative timeline culture. Therefore, I study old and new British culture and adapt it into my separate timeline. More specifically, I’m constantly taking into my brain a lot of British culture to put to personal use.
My coffee is wearing off, so I’ll stop there. It’s always great to chat with you!
blah, blah, blah. give it up.
and to answer your stupid question. No,
*Sigh* I come to MDN to get away from politics !!! Can’t we all agree that we love Apple tech and agree to vent our politics elsewhere on a politics forum?
I read the comments because I find the technical perspectives interesting. Politics just feels like nails on a chalkboard and frankly is getting boring.
Please stop !!
Too much truth. Note the leftists’ responses to your point. They all evade your point. Very telling.
you are kidding right? no i guess not. slander, lies and just plain stupidity doesn’t have a point.
thanks for your brilliant analysis, undeducated, brain dead, voter.
Ain’t it the truth though.
Without even reading the article, when I saw Bain Capital, that’s all it took to trigger me back to the Romney race where the Left VILIFIED him for his association with Bain Capital. I had never heard of nor cared if I ever did hear about Bain Capital. But thanks to the Left, it is seared into my memory. So now where are all those idiots when it comes to Apple working with such an evil outfit?!? Your silence is deafening.
Don’t tell me about sticking to the topic. When the Leftist idiots create a narrative, aided by those in the fake news, and who do not let things go even if AFTER incorrectly correlating events. Case in point, Trump’s “Grab ’em by the pussy” comment has released such moral outrage and indignation of Trump when the other major party candidate was married to the “rapist” Bill Clinton and headed up the Bimbo Eruption Squad, who was walked on more then the floor mat at Walmart and who stayed with her man, despite his philandering time and time and time and time and time again. Even after her man got his knob polished by a 24 year old intern, in of all places, The Oval Office! But let Trump say something sexually stupid and my goodness, the moral majority of the Left is woke! AND Vocal!
Meanwhile, Western Digital did this:
Western Digital buys flash storage company Tegile Systems
Financial terms were not disclosed.
Founded in 2012, Tegile makes hybrid flash storage arrays for virtualized server and virtual desktop environments, and these days is known for its IntelliFlash product series.
IOW: WD has the money and interest in Toshiba’s flash memory unit but has been dicking around with Toshiba apparently for the fun of it. I hope Bain wins the bid.
If WD completes the deal, it will come under a lot of regulatory scrutiny. Earlier this decade WD had to divest some of its HDD build capabilities to Toshiba in order to be allowed to complete the acquisition of HGST.
Apple putting in ~ 40% of one of the bids buys Apple what? Guaranteed first run and first priority on chips? Regulators will only allow that up to a point since this division won’t be a wholly controlled subsidiary of Apple.
It’s interesting to watch this play out.
Bain is “job creator” Romney. He did not create obs and he’s likely not even an Apple enthusiast.