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Foxconn: Apple, Amazon joining bid for Toshiba chip unit

Published 06/05/2017, 07:23 AM
© Reuters.  Foxconn: Apple, Amazon joining bid for Toshiba chip unit
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  • Foxconn (OTC:FXCOF) claims that Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) are joining the company’s bid for Toshiba’s (OTCPK:TOSBF, OTCPK:TOSYY) chip unit. Foxconn CEO Terry Gau said the others would “chip in funds” but hasn’t provided any specifics.
  • Foxconn previously announced teaming up with subsidiary Sharp for the Toshiba bid. Other bidders include Broadcom (NASDAQ:AVGO), KKR, and Western Digital (NASDAQ:WDC).
  • The Toshiba chip unit could garner $18B to $20B and help pull the tech giant out of financial turmoil caused by an accounting scandal and energy subsidiary Westinghouse Electric hemorrhaging money.
  • Western Digital is trying to legally block any unauthorized sale of the chip unit, claiming its acquisition of SanDisk last year granted contractual consent rights to the transfer of chips – even a transfer back to Toshiba.
  • Previously: Western Digital: Toshiba chip transfer doesn’t clear sale (June 2)
  • Now read: 1 Chart Explains Amazon


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