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Report: Toshiba short-lists bidders for chip biz

Japan's Toshiba Corp. has made a short list of bidders for the sale of its semiconductor business, Bloomberg News reported April 7, citing people familiar with the matter.

The sources said that Taiwan-based Hon Hai Precision Industry Co. Ltd., also known as Foxconn Technology Group, and SK Group unit SK Hynix in South Korea are in the remaining pool of bidders, which was reduced from about 10. A tie-up between private equity firm Silver Lake Management and U.S.-based chipmaker Broadcom Corp. is also still included.

Offers for the chip business have reached about ¥2 trillion, according to the report.

Toshiba wants Japanese companies to make bids, the sources said, but the current pool does not include any. However, a local public-private consortium has reportedly been proposed to make a bid to beat foreign contenders.

As of April 7, US$1 was equivalent to ¥110.73.