Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did 😎Read how

Apple, Amazon, Google join bidding for Toshiba chip unit - media

Published 01/04/2017, 04:41
Updated 01/04/2017, 04:50
© Reuters. An Apple logo is seen in a store in Los Angeles

TOKYO (Reuters) - Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN) and Google have joined bidding for Toshiba's NAND flash memory unit, vying with others for the Japanese firm's prized semiconductor operation, the Yomiuri Shimbun daily reported on Saturday.

Toshiba shareholders on Thursday agreed to split off its NAND flash memory business, paving the way for a sale to raise at least $9 billion (£7.2 billion) to cover U.S. nuclear unit charges that threaten the conglomerate's future.

The Yomiuri newspaper said bidding prices from Apple, Amazon or Google, owned by Alphabet (NASDAQ:GOOGL) Inc, were not known.

The Nikkei business daily reported on Friday that U.S. private equity firm Silver Lake Partners and U.S. chipmaker Broadcom Ltd have offered Toshiba about 2 trillion yen (£14.3 billion) for the unit.

About 10 potential bidders are interested in buying a stake in the microchip operation, a source with knowledge of the planned sale told Reuters earlier.

Suitors include Western Digital Corp (NASDAQ:WDC), which operates a chip plant with Toshiba in Japan, Micron Technology Inc (NASDAQ:MU), South Korean chipmaker SK Hynix Inc and financial investors.

Toshiba officials were not immediately available for comment.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.