Few firms show interest in Toshiba’s chip business
Five companies have been referenced as having shown interest although it is not clear that all have submitted bids. These are Bain Capital, Hon Hai Precision Industry, Micron Technology, SK Hynix and Western Digital.
SK Hynix Inc., the second-largest manufacturer of memory chips after Samsung, has submitted a bid worth between 2 trillion and 3 trillion won (about $1.8 billion to $2.6 billion), according to a Yonhap report that referenced an unnamed source.
Toshiba said it would sell the stake in its memory business in January as copes with multibillion dollar write-downs associated with its nuclear power business in the United States. However, the troubled times for Toshiba date back to 2015 when the company revealed its financial figures had been misreported for several years (see Toshiba considers listing or partial sale of chip business).
The Asian Nikkei Review described the response to Toshiba’s offer as “tepid” with only a few companies making on offer and no system level companies or fellow Japanese companies bidding despite previously expressing interest
Nikkei listed Western Digital, which is already partnered with Toshiba on NAND flash, Micron Technology, private equity firm Bain Capital, and Hon Hai Precision Industry, otherwise known as Foxconn.
Notable exceptions from the list were China’s Tsinghua Unigroup and Canon and Tokyo Electron.
Related links and articles:
News articles:
Toshiba considers listing or partial sale of chip business
Toshiba CEO resigns over accounting scandal
Like Micron, SK Hynix rejects Chinese advances
Toshiba to sell image sensor business
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