Foxconn supposedley offering $27B for Toshiba's memory business

04/10/2017
by Michael Cole

In February, Toshiba said it was looking to sell its memory business. The need to sell the assets amplified after its Westinghouse Electric nuclear power unit filed for bankruptcy in late March. Overall, Toshiba is expecting a decline in revenue and profits this financial year.Foxconn, on the other hand, is gathering up assets around the world, with factories in North America, Asia, Europe, and South America. Foxconn last year targeted another major Japanese company -- Sharp -- and it acquired a majority stake.

The news of the potential offer was first reported by the Wall Street Journal. Foxconn is the latest of a number of companies, including SK Hynix and equity investor Silver Lake, interested in acquiring Toshiba's chip assets.



Original article available at http://www.computerworld.com/article/3188750/data-...