• Sep. 11, 2017, 10:09 AM
    • Toshiba (OTCPK:TOSYY) is up 1.5% after news of a new flash memory fab and word from Reuters that the buyer group including Bain Capital and SK Hynix has boosted its offer for Toshiba Memory to ¥2.4T (about $22.3B).
    • That includes a ¥200B investment in infrastructure, is up from an initial bid of about ¥1.94T, and is reportedly in response to a revised bid from Western Digital (WDC +1.2%) that is likely higher than their own reported offer of ¥1.9T.
    • Sources tell Reuters that all three bidder groups, including Foxconn (OTC:FXCOF, OTCPK:HNHAF) have roped in Apple to boost the bids.
    • Toshiba's board meets on Wednesday to go over offers, Reuters says.
    Sep. 11, 2017, 10:09 AM | 12 Comments
  • Jun. 21, 2017, 3:23 AM
    • Toshiba (OTCPK:TOSYY) has selected a consortium consisting of the INCJ, Bain Capital and the Development Bank of Japan as a preferred bidder for its memory chip business, estimated to be worth around $20B.
    • Western Digital (NYSE:WDC) responded to the news, saying Toshiba continued to ignore both its subsidiary SanDisk's rights and the dual-track legal process currently underway.
    Jun. 21, 2017, 3:23 AM | 10 Comments
  • Jun. 5, 2017, 5:25 AM
    • Quoting Chairman Terry Gou, the Nikkei said that Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) will join Foxconn's (OTC:FXCOF) bid for Toshiba's (OTCPK:TOSYY) semiconductor business, which is valued at about $18B.
    • The two U.S. technology giants plan to "chip in funds", but it was not immediately clear if this means a direct investment in the chip unit or financing for the deal.
    Jun. 5, 2017, 5:25 AM | 9 Comments
  • May 18, 2017, 11:23 AM
    • State-backed fund the Innovation Network Corp. of Japan will sell a stake in Renesas Electronics (RNECY -4.9%) worth about $2.7B in what observers see as a sign that it's readying an investment in the chip unit at Toshiba (TOSYY -0.3%).
    • That would likely be part of a consortium with another suitor that would have a key advantage over others -- including Foxconn (OTC:FXCOF, OTC:HNHAF), Broadcom (AVGO +2.5%) and Western Digital (WDC +0.7%) -- as it would keep important semiconductor technology inside Japan.
    • INCJ has been considering a partial exit of its Renesas stake for a couple of years, but funding would be timely as bidders compete over a unit that Toshiba values at ¥2T (about $18B).
    • INCJ has just ¥1T for acquisitions and investment, and so is cautious about making large-scale deals.
    May 18, 2017, 11:23 AM | 10 Comments
  • May 15, 2017, 2:46 AM
    • Potentially derailing a much-needed capital injection, Western Digital (NYSE:WDC) is seeking international arbitration to stop partner Toshiba (OTCPK:TOSYY) from selling its chips unit without consent.
    • A legal battle could delay or put an end to the auction that could fetch some $18B and has attracted suitors such as KKR, Foxconn (OTC:FXCOF) and Broadcom (NASDAQ:AVGO).
    May 15, 2017, 2:46 AM | 13 Comments
  • Apr. 13, 2017, 2:14 PM
    • Toshiba (TOSYY -6%) has temporarily suspended meetings and decisions about the sale of its NAND memory chip business to address concerns raised by Western Digital (WDC -0.6%) about whether the auction process can proceed, Bloomberg reports.
    • Western Digital has suggested that splitting off the unit as Toshiba Memory before a sale violates a joint venture contract it has with Toshiba, and that bidding is running above fair and supportable value for the business. It wants exclusive talks over buying the unit, and RBC's Amit Daryanani believes WDC has an effective veto right.
    • Toshiba disagrees with WDC on that. After reports that Broadcom (AVGO +1.5%) had submitted a ¥2T bid, Foxconn (OTC:FXCOF) has reportedly come up with an offer to pay ¥3T (about $27B).
    • Previously: Bloomberg: Broadcom has financing lined up for $18.3B Toshiba chip bid (Apr. 13 2017)
    Apr. 13, 2017, 2:14 PM | 16 Comments
  • Apr. 12, 2017, 5:26 AM
    • The bidders for Toshiba's (OTCPK:TOSYY) chip unit are down to four, Reuters reports: Broadcom (NASDAQ:AVGO), Western Digital (NYSE:WDC), Foxconn (OTC:FXCOF) and SK Hynix.
    • That's down from a first round of 10 bidders, Reuters says.
    • Broadcom and Foxconn were previously reported to have submitted bids of ¥2T.
    • Meanwhile, Western Digital has warned that splitting off the chip unit before a planned sale violates their joint venture contract. The two run a plant together in Japan.
    • Western Digital says the auction process isn't in Toshiba shareholders' best interests and wants to enter exclusive talks in the deal, noting bidding is running hot and above fair value for the business.
    Apr. 12, 2017, 5:26 AM | 13 Comments
  • Mar. 1, 2017, 11:32 AM
    • Already considered among involved parties looking to acquire a stake in Toshiba's (TOSBF, TOSYY) memory business, Foxconn (OTC:FXCOF) chairman and CEO Terry Gou notes his company is highly confident an arrangement will develop, possibly inclusive of partners.
    • Toshiba is evaluating sale of the unit in whole or part in effort to offset a $6.3B write-down expected to be incurred by its nuclear power segment.
    • Previously (February 21, 2017): Toshiba seeks $8.8B for chip unit stake sale
    Mar. 1, 2017, 11:32 AM | 1 Comment
  • Feb. 24, 2017, 11:19 AM
    • SoftBank (OTCPK:SFTBY -0.7%) and Foxconn (OTC:FXCOF) are forging deeper ties with a joint venture that should benefit both as they look at U.S. expansion.
    • Foxconn will take a controlling 54.5% stake in SoftBank subsidiary SoftBank Group Capital Apac Pte Ltd., for $600M. SoftBank's ownership will fall to 45.5%. The move is effective on Wednesday.
    • Foxconn will manage the operation, intended to combine SoftBank's investment expertise with Foxconn's manufacturing and services advantages.
    Feb. 24, 2017, 11:19 AM | 1 Comment
  • Feb. 21, 2017, 4:12 AM
    • Toshiba (OTCPK:TOSYY) wants to raise at least ¥1T ($8.8B) from the sale of a majority stake in its flash memory chip business as a buffer against any fresh financial problems, Reuters reports.
    • The conglomerate is looking to restart the sale process as soon as possible and may sell to multiple buyers rather than one bidder, with interest already received from investment funds, chipmakers and client companies.
    • Among the possible bidders: MU, WDC, OTC:FXCOF, OTC:HXSCF and Bain Capital.
    Feb. 21, 2017, 4:12 AM | 9 Comments
  • Feb. 16, 2017, 3:28 AM
    • Toshiba (OTCPK:TOSYY) may delay the sale of its prized flash-memory chip unit after the conglomerate said it would consider selling most, even all, of the marquee business, a source told CNBC.
    • Loosening the deadline would ease concerns about trying to hurry any antitrust reviews, increasing the number of potential buyers and improved offers.
    • Among the possible bidders: MU, WDC, OTC:FXCOF, OTC:HXSCF and Bain Capital.
    Feb. 16, 2017, 3:28 AM | 9 Comments
  • Feb. 7, 2017, 2:59 AM
    • Toshiba (OTCPK:TOSYY) favors private equity bidders in the sale of a stake in its chip business, as suitors including rivals SK Hynix (OTC:HXSCF), Micron (NASDAQ:MU), Foxconn (OTC:FXCOF) and Western Digital (NYSE:WDC) vie with financial investors like Bain Capital.
    • Toshiba needs to raise funds by the end of March to offset an imminent multi-billion dollar nuclear unit writedown, meaning there may not be enough time to conclude a deal with another chipmaker.
    Feb. 7, 2017, 2:59 AM | 11 Comments
  • Dec. 7, 2016, 8:47 AM
    • Foxconn (OTC:FXCOF) could take over Austrian IT group S&T, after Foxconn unit Ennoconn raised its holding in S&T to 29.4% in October.
    • "If we develop poorly and our share price falls significantly I expect that Foxconn will do a full takeover," weekly magazine WirtschaftsWoche quoted Hannes Niederhauser as saying in an interview.
    Dec. 7, 2016, 8:47 AM
  • Aug. 15, 2016, 6:46 AM
    • M&A activity is kicking off the headlines this week with an array of deals expected to be announced shortly.
    • Among them: Mid-America Apartment (NYSE:MAA)- Post Properties (NYSE:PPS), Sharp (OTCPK:SHCAY)- Foxconn (OTC:FXCOF), Honeywell (NYSE:HON)- JDA Software, Xylem (NYSE:XYL)- Sensus USA and KKR- Entertainment One (OTC:ENTMF).
    • The technology sector is still leading the global M&A market in 2016, but the real estate segment is not far behind.
    • Will 2016 outpace 2015's record in terms of acquisitions and deal value?
    Aug. 15, 2016, 6:46 AM | 3 Comments
  • Aug. 12, 2016, 2:51 AM
    • Shares in Sharp (OTCPK:SHCAY) surged almost a fifth overnight after Chinese antitrust authorities approved Foxconn's (OTC:FXCOF) $3.8B takeover of the struggling Japanese display maker.
    • The green light from China was the final hurdle to clear the acquisition, which will see Tai Jeng-wu, a close aide of Foxconn founder Terry Gou, replace Sharp's current chief executive Kozo Takahashi.
    Aug. 12, 2016, 2:51 AM