Business

Toshiba said yes to the Bain-Capital-backed bunch – reports

The question is... will Western Dig give the OK?

By Andrew Silver

4 SHARE

Struggling Toshiba has picked a group led by the investment firm Bain Capital to buy its memory chip business, Reuters reports.

The Bain group includes SK Hynix, a chipmaker based in South Korea, Apple, Dell and other US tech firms, and they've pitched an offer of about ¥2.1 trillion ($22 billion).

"At this point, we cannot return a request for comment on the deal, regretfully," a spokesperson for SK Hynix told The Register.

Toshiba is eager to sell its share of its NAND flash chip joint venture with WDC due to losses from its nuclear power station work in the US. But it's locked in a long legal row with WDC, which is arguing it has veto power.

According to Reuters, late Tuesday Toshiba was leaning toward selling to a Western-Digital backed group, but changed its mind as WDC wouldn't agree to limits on a future stake. According to multiple reports, Toshiba's board made the decision to sell to the Bain Group today.

Toshiba, Bain Capital, Apple and Dell have not responded to a request for comment. Western Digital, which according to Reuters is going to seek a court injunction, declined to comment. ®

Sign up to our NewsletterGet IT in your inbox daily

4 Comments

More from The Register

Feeling a bit gassy? Toshiba floats 16TB helium whopper

Nine-platter beast serves up high-capacity spinning rust

Number-three disk drive maker Toshiba isn't shy about shipping 23.4m spinners in 3Q18

Will it increase capacity in a tuned-in MAMR?

MAMR Mia – it's not just WD: Toshiba's popped to the microwave too

Oscillating microwaves reduce coercivity, permit small area bit writing

He, He, more gassy whoppers: Toshiba spreads 12TB, 14TB drives across gaming and NAS disks

Extremely, er, unspecified helium-filled gaming disk performance

If you ever felt like you needed to carry 4TB of data around, Toshiba's got you covered

External Canvio drive leads the way in capacity upgrade

Toshiba crams 14TB into another helium drive, this time with SAS boost

MG07SCA is a workhorse designed for constant use

China changes its mind on Bain's Toshiba chip takeover plans

US financier will be allowed to acquire memory biz after all

Toshiba gets NASty: Soups up hi-cap enterprise drive

9-platter capacity drive modified for NAS use

PC nerds: Can't get no SATA-isfaction? Toshiba flaunts NVMe SSD action

Claims years-in-dev tech doubles speed

Who dares wins, they say, so Toshiba's SAS drive plans another hit on SATA

Faster interface aims to replace 6Gbit/s dead end in servers