News Worms
News Worms


Apple may bid for Toshiba chips division

Apple may bid for Toshiba chips division

Citing sources familiar with the matter, NHK says that Apple is looking at several potential partners for the bid, including electronics maker Foxconn, which has already considered making a substantial bid of its own.

Apple is the latest company to be linked with a possible bid for an investment in Toshiba's sizable computer memory business, which is up for sale.

The inclusion of Apple in the race adds a layer of complexity to the bidding war but makes sense given Apple's dependence on its iPhone smartphone cash cow.

The Japanese government is concerned about Toshiba selling critical technologies to foreign buyers, and it is closely monitoring the bidding process.

USA chipmaker Broadcom looks to be on top of the $18bn+ race for beleaguered Toshiba's flash memory business. Toshiba's Westinghouse unit, which is behind a 716.6 billion yen impairment at the center of the imbroglio, is mired in lawsuits and has filed for Chapter 11 bankruptcy restructuring.

Earlier this year, Toshiba took a writedown of $6.56 billion against its struggling US nuclear equipment operations and it's hoping to rebound from that loss with a sale. The company has incurred billions of dollars of loss from delays and cost overruns on projects in Georgia and SC.

Western Digital claims that any sale of Toshiba's chip business would violate the terms of the joint venture agreement between the two companies, and it has said that it should have exclusive negotiating rights for the sale.

Any acquisition of the memory chip business faces hurdles.

As part of that proposed deal, Toshiba may also keep a stake in its company, which should ensure that the JV isn't under majority Chinese control - something that could raise red flags with Japanese regulators.

Auditors suggest - "It is an unusual move for a Japanese company-and with a warning that the entire company could collapse".

Broadcom Ltd - U.S. Chipmaker - Partner with private equity firm Silver Lake Partners LP. The company, which invented NAND flash in the early 1980s, had been considering spinning off its semiconductor operations and selling a partial stake to Western Digital (WD) and others, as it tries to cope with a massive impairment loss in its US nuclear power unit.

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