Featured Post

Twenty Practical Steps to Better Corporate Governance | The Corporate Secretaries International Association (CSIA)

Twenty Practical Steps to Better Corporate Governance | The Corporate Secretaries International Association (CSIA) Please click the li...

Wednesday, June 14, 2017

SK Hynix To Join Bid For Toshiba Chip Business, Say Media Reports

http://ift.tt/eA8V8J

South Korean semi-conductor chip maker SK Hynix (000660.KR) is set to join a bid for Toshiba’s semiconductor business, according to media reports.

Reuters has picked up a story in Japan’s Asahi newspaper which says SK Hynix will lend 300 billion yen to a joint bid led by the Japanese government’s Ministry for the Economy, Trade and Industry (METI). Here are the details:

Japan’s government is assembling a Japan-South Korea-U.S. consortium in a last-minute bid for Toshiba Corp’s (6502.JP) prized semiconductor business, countering a $20 billion offer from U.S. chipmaker Broadcom Ltd, the Asahi newspaper said on Wednesday.

The new bid, being arranged by the Ministry for the Economy, Trade and Industry, groups government lenders Development Bank of Japan and Innovation Network Corp of Japan. It would exceed the 2 trillion yen ($18 billion) minimum sought by struggling Toshiba, the newspaper said, citing an unnamed source.

INCJ, DBJ and U.S. private equity firm Bain Capital LP would each invest 300 billion yen in a special-purpose company to buy Toshiba Memory Corp. Toshiba itself would contribute up to 100 billion yen and other Japanese firms a combined 140 billion yen, while U.S. investment firm KKR & Co LP is considering putting in 100 billion yen, the Asahi said.

South Korea’s SK Hynix Inc would lend 300 billion yen to the project and Bank of Tokyo Mitsubishi UFJ 400 billion yen, it said.

June 14, 2017 at 07:47AM

http://ift.tt/2rpeQ9I

from Robert Guy

http://ift.tt/2rpeQ9I


No comments:

Post a Comment