- 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
Original article