TAKEOVER BID
Group raises its offer for Toshiba chip unit
Bain and SK Hynix group hikes its bid for Toshiba chip unit to $22bn
Tokyo — A group including Bain Capital and South Korea’s SK Hynix had raised its offer for Toshiba’s chip business to ¥2.4-trillion ($22.3bn), including a ¥200bn investment in infrastructure, sources said. The offer by the consortium, led by the US private equity group and the South Korean chip maker as well as Japanese state-backed investors, was higher than an initial offer of about ¥1.94-trillion, according to the sources, who requested anonymity because the talks were confidential. Bain and SK Hynix representatives were not immediately available for comment, while Toshiba declined to comment on details of the deal negotiations. The move comes after sources said Western Digital, part of a competing group in final-stage talks with Toshiba, had revised its offer. The sources said the US company would take a step back from the initial financing consortium to tackle Toshiba’s concerns that a Western Digital stake could lead to prolonged antitrust reviews. It was unclear what its late...
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