Report: Broadcom, Foxconn each bid ¥2T for Toshiba Memory

|About: Broadcom Limited (AVGO)|By:, SA News Editor

Foxconn (OTC:FXCOF) -- a k a Hon Hai Precision Industry -- and Broadcom (AVGO +0.2%) have each submitted bids of over ¥2T (about $18.04B) in the first round of action for the memory chip business of Toshiba (OTCPK:TOSYY -0.3%, OTCPK:TOSBF +2.2%), Asahi reports.

Broadcom (along with Silver Lake Partners) was previously reported to have prepared a bid in that range, at the high end of estimates for the unit's value.

Meanwhile, hitting around the ¥1T range are bids from Western Digital (WDC +1.7%) and the group including SK Hynix and KKR, Asahi says.

All bids are pursuing 100% of the business. Meanwhile, Toshiba will be evaluating whether a buyer wants to turn around and re-sell the business as it evaluates the bids.

Source: Bloomberg