tech

Toshiba completes $18 bil sale of chip unit to Bain consortium

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Ah, the trouble you get into when trying to deal with US corporations. Perhaps the Japan government should introduce a law forbidding Japanese companies to buy US ones, or at least put a tariff on it.

-2 ( +1 / -3 )

@albaleo

Bain Capital is a just front end cover for SK Hynix, which wanted to acquire Toshiba outright but faced Japanese political opposition to anything Korean.

Bain Capital has an option contract to sell all of its Toshiba Memory shares to SK Hynix at a future date, at that point SK Hynix gains full control of Toshiba Memory.

0 ( +1 / -1 )

"at a future date, at that point SK Hynix gains full control of Toshiba Memory."

Did you understand the article at all?!

Firstly:

"The consortium includes South Korean chipmaker SK Hynix , Apple Inc, Dell Technologies, Seagate Technology and Kingston Technology."

There are 4 other non-Korean companies in the mix, yer no?!

Secondly:

"Under the deal with Bain, Toshiba repurchased 40 percent of the unit, it said in a statement."

Therefore Bain can sell it's shares and SK will still not own the majority of the shares, unless the other 4 decide to sell as well.

-1 ( +0 / -1 )

@Samit,

My sarcastic comment was related to Toshiba's purchase of Westinghouse. When I wrote it, I was trying to think of any successful purchase of a US company by a Japanese one. While I'm sure there are many, I couldn't think of any at the time.

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