Toshiba’s lengthy tale of selling its chip business continues as additional parties mount up: Apple and Amazon are now backing Foxconn in the acquisition attempt, committing equity investments to the bid. The Taiwanese company has already offered $18.2 billion to buy Toshiba’s semiconductor business, which is being sold to cover the billions of dollars in cost overruns at its now bankrupt US nuclear unit Westinghouse. If things go as planned, flash memory should be much cheaper to access for these companies. Thanks to Kyle for this one.



The two U.S. technology giants plan to “chip in funds”, Gou said in an interview, according to the newspaper. It was not immediately clear if this would take the form of a direct investment in the semiconductor unit or would be financing for the deal. Taiwan’s Foxconn, formally known as Hon Hai Precision Industry Co Ltd, has also partnered with its Japanese unit Sharp Corp in its bid. “Foxconn can confirm that we have submitted a bid for Toshiba’s chip business with a number of strategic partners,” the Taiwanese firm said in a statement to Reuters. It said it would discuss details “at the appropriate time”.

Discussion

Source: [H]ardOCP – Foxconn Says Apple, Amazon to Join Its Bid for Toshiba Chip Business