“Toshiba is selling its prized memory chip business for $18 billion to a group of buyers that includes Apple,” Sherisse Pham reports for CNN. “The Japanese conglomerate is offloading major assets to try to deal with a crippling financial crisis. The memory chip business is its crown jewel, which has attracted interest from major tech companies like Taiwan’s Foxconn.”
“But after a messy, months-long bidding process, Toshiba has picked a consortium led by U.S. private equity firm Bain Capital and backed financially by Apple, Dell and other U.S. and Japanese firms,” Pham reports. “It wasn’t immediately clear how much of the 2 trillion yen ($18 billion) will come from Apple, which uses memory chips for iPhones, tablets and other devices. Multiple reports suggested its stake in the bid would be significant, but the company declined to comment.”
“Other U.S. tech companies putting money into the deal include flash memory product maker Kingston and data storage firm Seagate, according to Bain,” Pham reports. “The agreement may not be the end of the saga, however. The Bain group fended off a challenge from U.S. data storage firm Western Digital, whose subsidiary SanDisk has a joint venture with Toshiba. But Western Digital is still trying to block the deal. SanDisk filed new proceedings against Toshiba in international courts Wednesday, calling the deal a “retaliatory breach” of the joint venture agreement.”
Read more in the full article here.
MacDailyNews Take: Once the sour grapes SanDisk challenge is dispatched, this’ll be a done deal.
Reportedly, Apple wil be in for around $3 billion, making this one of Apple largest deals ever, if not the largest. (Apple’s largest acquisition to date was the purchase of Beats Electronics for US$3 billion in a cash and stock on August 1, 2014).
SEE ALSO:
Toshiba decides on Bain Capital-Apple Group in chip business sale – September 20, 2017
If Bain Capital bid for Toshiba succeeds, it could be Apple’s largest deal ever – September 14, 2017
Apple mounts a full-court press for Toshiba’s chip business, waging battle with Western Digital – September 8, 2017
Foxconn details plan to acquire Toshiba chips unit; Apple would own 20 percent – September 7, 2017
Bain Capital brings in Apple for last-minute $18 billion bid for Toshiba chip unit – August 30, 2017
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
I remember when Dem/Lib/Progs were hysterically shrieking about how Bain Capital was the embodiment of Hell on earth led by Satan himself, Mitt Romney, centrist squish.
Now that Apple’s tied up with Bain, not a peep from the resident lib statists.
Always remember that 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 issue or some incident one week, then drop it cold for a new one the next. Death by a thousand cuts is their modus operandi. Embrace, exploit, exhaust. Repeat ad nauseam.
The transparent duplicitousness of Dem/Lib/Progs is nearly as appalling as their slack-jawed stupidity.
Never anything useful to add.
*plonk*
Please keep the discussion civil and on-topic. Off-topic posts and ad hominem attacks will be deleted and those who post such comments will be moderated/blocked. Permanent loss of screen name could also result.
Hello MDN, when are you going to enforce your new policy????????????
Heard it before, Fwhatever. Same posts repeated. Same graphics repeated. Same whining repeated.
You must have a major inferiority complex, because you keep attacking everyone else to make yourself feel better.
Bain Capital may very well be the embodiment of [hell] on [Earth]. I have a relatively low opinion and low expectations of most investment firms. Just because Apple and other corporations engage in a deal with Bain doesn’t mean that Bain has somehow transformed into something pure and holy.
You are way, way too one-sided in your evaluation of politics and world events. You can apply many of the your same accusations and adjectives to the other political parties/factions in the U.S.: disingenuous…everything is the utmost tragedy to be exploited for furthering their ambitions for control…Just watch them elevate some issue or some incident one week, then drop it cold for a new one the next…embrace, [label, disparage,] exploit, exhaust. Repeat ad nauseam.
If you think that your section of the “swamp” somehow smells and functions better, then you are sadly confused just like our Tweeter in Chief.
The transparent duplicitousness of Dem/Lib/Progs is nearly as appalling as their slack-jawed stupidity.
I missed the last sentence when I was editing your crap. No doubt you will have fun with that (shrug).
People do not know why they believe what they are told to believe. They follow what the media tells them.
This applies to both sides. And obviously not every one. But the majority of people.
If side “A” does something and a person from side “B” is asked for an opinion of it, it’s bad. And they ask side “A” for their opinion, they say it’s good.
Oops, this was meant as a reply to First 2014.
I agree that far too many people are under informed and insufficiently motivated to research and evaluate issues of any type – social, political, judicial, scientific. I have no doubt that many people spend far more time watching Big Brother and similar TV shows that keeping informed on politics. The current POTUS is clear evidence of that. Most people simply appear to like the fact that the POTUS is angry and speaks whatever comes into his head, regardless of the merits or the meaning (or lack, thereof).