Foxconn could bid up to $27B for Toshiba's chip business

ASSOCIATED PRESS
TOKYO
Published 11.04.2017 20:42
Updated 11.04.2017 20:45
Foxconn could bid up to $27B for Toshiba's chip business

Taiwan's Foxconn (2317.TW) has indicated that it may pay as much as 3 trillion yen ($26.99 billion) for Toshiba Corp's (6502.T) chip business, Bloomberg reported on Monday, citing people familiar with the matter.

South Korea's SK Hynix Inc. and chipmaker Broadcom Ltd (AVGO.O) have submitted preliminary bids for the business, valued at 2 trillion yen ($17.98 billion) or more, according to the report.

Toshiba, the second-biggest NAND chip producer after South Korea's Samsung Electronics, is considering selling the majority - or all - of its marquee flash-memory chip business, as it seeks to make up for a $6.3 billion writedown from its U.S. nuclear unit Westinghouse.

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