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Report: Apple, Amazon onboard Foxconn's Toshiba chip bid

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Report: Apple, Amazon onboard Foxconn's Toshiba chip bid

Apple Inc.and Inc. are backing Foxconn Technology Group in its bid for Toshiba Corp.'s memory chip business, The Nikkei reported June 5, citing Foxconn Chairman Terry Gou.

Foxconn, formally known as Hon Hai Precision Industry Co. Ltd., with an offer of more than ¥2 trillion, is reportedly the highest bidder among five interested parties, the report said, citing sources.

Foxconn partnered with its Japanese unit Sharp Corp., wherein the latter will reportedly bid for up to 20%.

Other bidders include Bain Capital, which offered to pay $10 billion for a 51% stake, a consortium led by KKR & Co. LP willing to shell out about ¥1.8 trillion, and Western Digital Corp., which extended an offer of ¥2 trillion.

As of June 2, US$1 was equivalent to 110.47 Japanese yen.