Stories

SaveSave story

Apple and Amazon team up on takeover bid for Toshiba chips

Toshiba

Apple and Amazon are joining forces to support Foxconn's takeover bid for Toshiba Corp.'s semiconductors business, according to a Nikkei interview with Foxconn CEO Terry Gou. Specific financial details of the arrangement are unclear.

Why it's a big deal: This is the world's second-largest maker of NAND-type flash memory chips, and could be valued at more than $18 billion. Moreover, Japan's Toshiba needs the sale proceeds to help cover the massive losses from its U.S. nuclear energy unit (Westinghouse).