Report: Apple teams with Bain on $18 billion chips bid
Private equity firm Bain Capital has recruited Apple for a last-ditch offer to buy Toshiba Corp.'s semiconductors business, according to Reuters. The bid comes in at around $18.2 billion, with Bain and South Korean chipmaker SK Hynix responsible for over half, Apple providing up to $3.6 billion and Japanese banks funding the remainder. This would slightly trump an existing offer led by Toshiba joint venture partner Western Digital, which also includes KKR.
Timing matters: A big question is if Bain and Apple are just too late with their latest gambit, given the pressure Toshiba is under to get a deal done. Per Reuters: