Jun 13, 2017

Foxconn tries to change optics on bid for Toshiba chips biz

Toshiba

Foxconn CEO Terry Gou said yesterday that Apple and Dell have joined on his company's bid for Toshiba's semiconductors business, which could garner more than $18 billion. It makes sense for China-based Foxconn to bring on American partners, given the political hurdles in Japan. Well, until you remember that Dell is backed by Silver Lake ― the same private equity firm that has teamed with Broadcom on its own bid for the Toshiba business.

Don't overplay: Word is that Dell didn't make any binding financial commitment to Foxconn, so this might be more a case of Gou asking for an optics favor from his major supply chain partners, as Toshiba is just about a week away from naming a winning bidder. We also hear that the Broadcom/Silver Lake bid very much remains on the table.

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Coronavirus spreads to more countries, and South Korea ups its case count

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus continues to spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting those are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the U.S. South Korea's confirmed cases jumped from 204 on Friday to 433 on Saturday.

The big picture: COVID-19 has now killed at least 2,362 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel, Lebanon and Iran.

Go deeperArrowUpdated 9 mins ago - Health

Centrist Democrats beseech 2020 candidates: "Stand up to Bernie" or Trump wins

Bernie Sanders rallies in Las Vegas, Nevada on Feb. 21. Photo: Mario Tama/Getty Images

Center-left think tank Third Way urgently called on the Democratic front-runners of the 2020 presidential election to challenge Sen. Bernie Sanders on the South Carolina debate stage on Feb. 25, in a memo provided to Axios' Mike Allen on Saturday.

What they're saying: "At the Las Vegas debate ... you declined to really challenge Senator Sanders. If you repeat this strategy at the South Carolina debate this week, you could hand the nomination to Sanders, likely dooming the Democratic Party — and the nation — to Trump and sweeping down-ballot Republican victories in November."

Situational awareness

Warren Buffett. Photo: Daniel Zuchnik/WireImage

Catch up on today's biggest news:

  1. Warren Buffett releases annual letter, reassures investors about future of Berkshire Hathaway
  2. Greyhound bars immigration sweeps
  3. U.S. military officially stops offensive operations in Afghanistan
  4. America's future looks a lot like Nevada
  5. Centrist Democrats beseech 2020 candidates: "Stand up to Bernie" or Trump wins