According to the Nikkei business daily that quoted Taiwan’s Foxconn’s Chairman Terry Gou, both Apple and Amazon are now a part of Foxconn’s bid to buy Toshiba Corp’s semiconductor business.
According to Gou, and the newspaper, it looks like Apple and Amazon are planning to “chip in funds” towards the purchase. Toshiba is selling its semiconductor business to cover the billions of dollars that has built up in cost overruns at the chip maker’s U.S. nuclear unit Westinghouse that is now bankrupt. The unit is valued by Toshiba at $18 billion at least.
There have been no direct details on how this would be done or if the tech giants would have any investment in the semiconductor unit. This could be just financing for the deal, but it’s too early to tell.
In its bid, Foxconn has also partnered with Sharp Corp. its Japanese unit. The firm told Reuters, “Foxconn can confirm that we have submitted a bid for Toshiba’s chip business with a number of strategic partners.” They remarked that details would come later “at the appropriate time”.
Both Apple and Amazon have not confirmed anything yet.
Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) nor Amazon.com, Inc. (NASDAQ: AMZN) and have not been compensated for this article.