Apple and Amazon team up on takeover bid for Toshiba chips
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).