Tokyo — Suitors, including private equity firms KKR, Bain Capital and US chip-maker Broadcom, are lining up for Toshiba’s semi-conductor business, sources familiar with matter said ahead of a deadline for second-round offers on Friday. Broadcom, which has teamed up with private equity firm Silver Lake, and Bain which has partnered with South Korean chip-maker SK Hynix, will participate in the second-round, the people said. It was not clear if KKR and its partners would submit their offer by the end of the day. Toshiba, which values its chip unit at at least ¥2-trillion ($18bn), was forced to put its prized asset on the block this year, after dramatic cost over-runs at its now-bankrupt US nuclear unit left it scrambling for cash. Selling the unit is critical for the company’s recovery. However, much about the sale and its outcome are still uncertain, as Toshiba’s business partner, Western Digital, which jointly runs Toshiba’s main semi-conductor plant and is one of the suitors for th...
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