“Apple Inc. is throwing its considerable weight, and $3 billion in cash, behind Bain Capital’s multibillion-dollar bid for Toshiba’s flash memory business, Bloomberg reports, citing unnamed sources,” Luke Stangel reports for The Silicon Valley Business Journal. “If true, this would mark Apple’s biggest acquisition since its 2014 purchase of Beats Electronics for $3 billion.”
“For months, Apple has quietly circled the deal, apparently in hopes of keeping the business out of the hands of San Jose-based hard drive maker Western Digital Corp. Until recently, Apple had backed a rival bid led by its main manufacturing partner, Taiwan’s Foxconn,” Stangel reports. “Toshiba’s flash memory chips are embedded in hundreds of millions of consumer electronic devices, including the iPhone. Apple wants to keep the supply of key iPhone components competitive.”
“This week, Toshiba said it planned to focus on the Bain Capital-led bid, which is rumored to be worth somewhere between $18 billion and $22 billion, with a promise of more than $1 billion in infrastructure improvements,” Stangel reports. “Toshiba hopes to agree on terms of the deal by the end of the month.”
Read more in the full article here.
MacDailyNews Take: Soon.
SEE ALSO:
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
[Thanks to MacDailyNews Readers “Fred Mertz” and “Dan K.” for the heads up.]