Tokyo — Bain Capital and a Japanese state-backed fund are in talks about teaming up to bid for Toshiba Corp’s prized chip unit, sources familiar with the matter said. The US private equity firm would replace rival KKR & Co LP as the main partner of the state-backed fund and would be a minority investor in the consortium under the plan being discussed, one of the sources said. Bain submitted a bid in the second-round of the auction with South Korean chipmaker SK Hynix. The current consortium led by the Japan Innovation Network Corp fund is one of two frontrunners in the race for the world’s second biggest producer of NAND flash memory chips. The sources declined to be identified as the talks were confidential. A representative for SK Hynix declined to comment. A representative for KKR was not immediately available for comment. Western Digital, which jointly operates a key flash memory chip plant with Toshiba in Japan, has been planning to work with the Japanese state-backed fund and ...
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