Foxconn willing to pay $27 billion for chip business

Toshiba and the Japanese govt want to sell the company's semiconductor business to a domestic buyer

Toshiba and the Japanese government want to sell the company’s semiconductor business to a domestic buyer, but foreign bidders are proving more determined and aggressive as the auction heads toward a final decision in the coming weeks.

Taiwan’s Hon Hai Precision Industry, South Korea’s SK Hynix and chipmaker Broadcom have all submitted preliminary bids for the Toshiba business valued at 2 trillion yen ($18 billion) or more, people familiar with the matter said. Hon Hai has indicated it may pay as much as 3 trillion yen, in part to force Japanese management into negotiations, said one of the people, asking not