Toshiba: Nikkei Says Broadcom Among NAND Bidders

Toshiba: Nikkei Says Broadcom Among NAND Bidders

Asahi Shimbun and Yomiuri Shimbun said when Chinese and Taiwan companies acquire Toshiba, that could lead to Toshiba's memory chip technology being used in military technology.

Now according to a report from The Korea Herald, a couple of high profile tech companies are said to be bidding on the business, which includes Apple and Google.

The Nikkei business daily reported on Friday that USA private equity firm Silver Lake Partners SILAK.UL and US chipmaker Broadcom Ltd AVGO.O have offered Toshiba about 2 trillion yen ($18 billion) for the unit.

Currently, there are 10 bidders including the world's third largest NAND flash maker Western Digital, Korean chipmaker SK hynix, Taiwanese tech firm Hon Hai and U.S. chipmaker Broadcom.

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Toshiba, a pillars of corporate Japan, also warned its annual losses, mainly tied to Westinghouse, could blow out to 1.01 trillion yen ($9.07 billion), compared with an earlier projected shortfall of 390 billion yen.

Immediate confirmation of the report was not available.

The red ink is largely tied to huge cost overruns and construction delays at its USA nuclear power unit Westinghouse Electric, which filed for bankruptcy protection this week.

The sale of its memory chip business is crucial for cash-strapped Toshiba, which may escape the risk of being delisted but will still likely to demoted to the second section of the Tokyo Stock Exchange. The latter situation is unlikely, since memory supply isn't an area of Apple expertise and the company would have to sell chips to rival electronics makers. Toshiba plans on meeting with individual bidders this month. Toshiba is in fact thought to be leaning towards USA companies, not only because of security but because going in that direction could ease dealings with the US government over Westinghouse.

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