Apple is poised to join in the bid for Toshiba's semiconductor unit, according to reports by NHK on Friday (April 14). However, Toshiba is said to still maintain a partial stake in the business to ensure that it stays under Japanese and United States controls.
In early March Patently Apple posted a report titled "Bad News for Samsung: Apple Suppliers TSMC and Foxconn are Joining Forces to Make a Bid for Toshiba".
Apple was not immediately available for comment. Sources told the Japanese broadcaster that the iPhone maker's plan is to take a partial interest so that the semiconductor business will be controlled by both a Japanese and American firm.
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The iPhone maker is actively looking at options for helping the troubled Japanese company by investing in its semiconductor unit, which has been put up for sale, according to people familiar with the matter.
Toshiba posted a loss of 712.5 billion yen ($6.3 billion) for the past year, due to losses in its Westinghouse nuclear reactor business.
Toshiba is splitting off and selling its semiconductor business following the collapse of USA nuclear power business subsidiary, Westinghouse Electric Co. The company has incurred billions of dollars of loss from delays and cost overruns on projects in Georgia and SC. This company is also one of the bidders for this chip business. It is also demanding exclusive negotiating rights.
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The release came without the blessing of auditors - a highly unusual move for a Japanese company - and with a warning that the entire company could collapse. Other bidders reportedly include Western Digital and fellow chipmaker Broadcom.
In exchange for the chip unit stake as collateral, Toshiba hopes to get about 300 billion yen in fresh loans and be able to draw down existing loan commitments worth 680 billion yen.
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