Foxconn offers up to US$27 bln for Toshiba’s chip business

Foxconn is the latest of a number of companies, including SK Hynix and equity investor Silver Lake, interested in acquiring Toshiba's chip assets. However, chip manufacturing in Japan has slipped as rivals in South Korea and China gain in strength. Toshiba storage products can be purchased directly, but it also supplies and makes flash products for other hardware companies. An acquisition by Foxconn would give Toshiba the scale it needs to advance in the manufacturing of memory and storage. Foxconn, the Taiwanese electronics manufacturer best known as the maker of iPhones and iPads for Apple, is said to be preparing a $27 billion bid to acquire Toshiba's computer chip assets.


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Foxconn offers up to US$27 bln for Toshiba's chip business

Foxconn offers up to US$27 bln for Toshiba's chip business: WSJTaiwan's Foxconn Group has offered up to 3 trillion yen (US$27 billion) for Toshiba's computer-chip business, the Wall Street Journal reports, citing people familiar with the matter. Toshiba has said it intends to sell up to 100 percent of the chip business, which makes flash-memory chips for smartphones and computer servers. According to the report, the next-highest bidder after Foxconn offered about 2 trillion yen when initial bids for the business were accepted in late March. Analysts have estimated the business' fair value at between 1.5-2.0 trillion yen. Battered by huge cost overruns at US nuclear-reactor construction projects, Toshiba is looking to cash out assets to stay alive, the Journal noted.





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