TOKYO (Reuters) - Bain Capital, now in the lead to buy Toshiba Corp's prized memory chip unit, said on Friday it has brought in Dell Inc and other tech firms as new members of its consortium to bolster its bid.
Toshiba said this week it has agreed to focus on selling the world's No. 2 NAND producer to a group led by Bain and South Korean chipmaker SK Hynix Inc but it did not rule out a deal with other suitors including Western Digital.
Sources have said that the Bain group also included Apple Inc and the offer was worth 2.4 trillion yen ($22 billion), including a 200 billion yen investment in infrastructure.
The U.S. private equity firm said in a statement that in addition to Apple, other members also included Dell, memory product maker Kingston Technology and data storage firm Seagate Technology Plc "who will provide capital in a sign of industry-wide support for an independent Toshiba".
It did not give a breakdown of how much each firm was prepared to invest.
Addressing opposition from Toshiba's joint venture partner Western Digital, which argues any deal will need its consent, Bain said it would honour "all the contractual terms of the Western Digital joint venture".
(Reporting by Junko Fujita, Ritsuko Ando and Makiko Yamazaki; Editing by Muralikumar Anantharaman and Edwina Gibbs)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
