South Korean chip maker SK Hynix and US private-equity firm Bain Capital plan to bid between $9 billion and $13.5 billion for more than half of Toshiba Corp.’s memory-chip business, according to a person familiar with the matter.
“Regarding the acquisition of management stake of Toshiba’s memory unit, we decided to join the final bid in partnership with a consortium,” the Korean chipmaker said in its regulatory filing Friday afternoon.
SK hynix reportedly joined the consortium led by Bain Capital, which has set up a special-purpose company to acquire a 51 percent stake of Toshiba’s memory unit.
Investment in part of the stake — rather than complete acquisition — could also help the consortium circumvent antitrust regulations.
Japanese newspaper Nihon Geizai Shimbun estimated that the total investment volume of the special-purpose company would be a little more than 1 trillion yen ($8 billion) but it is yet unknown how much SK hynix will set aside.
Bain Capital is expected to sound out the government-backed fund Innovation Network Corp. of Japan about joining as a small shareholder. If the local fund joins, the move might dispel the Japanese government’s concerns about technology leaks to foreign companies.
Full Content: Asia Nikkei
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI