- Toshiba (OTCPK:TOSBF, OTCPK:TOSYY) selected a winning chip unit but nothing can go smoothly for that process so a rival consortium is trying to woo Apple (NASDAQ:AAPL) from the leading bidder.
- Toshiba told creditors that the Bain-backed winning consortium wasn’t finalized yet because Apple hadn’t agreed to all the terms.
- Bloomberg reports that the KKR-backed consortium wants Apple to switch to its team, which also includes Western Digital (NYSE:WDC).
- Apple previously objected to Western Digital’s participation, fearing the company would try to control the unit and create a power concentration in the chip market.
- Western Digital has threatened to legally block the chip unit sale without its permission, which essentially means complicating a sale to any other consortium.
- Apple wants to get the best chip prices for itself and is reportedly negotiating supply terms with Toshiba before signing off on any deal.
- Apple shares are up 0.8% premarket.
- Western Digital shares are up 1.03% premarket.
- Previously: Reuters: Toshiba chip unit deal delayed by Apple (Sept. 25)
- Previously: Western Digital comments on arbitrations filed against Toshiba (Sept. 26)
- Now read: Retirement Strategy: What's Wrong With Apple?
Original article