Asia Unhedged | Foxconn puts Japan in bind with US$27 billion bid for Toshiba chip unit
The logo of Toshiba Corp is seen behind cherry blossoms at the company's headquarters in Tokyo. Photo: Reuters, Toru Hanai
The logo of Toshiba Corp is seen behind cherry blossoms at the company's headquarters in Tokyo. Photo: Reuters, Toru Hanai
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Foxconn puts Japan in bind with US$27 billion bid for Toshiba chip unit

The offer will be hard to refuse, despite efforts to find a Japanese or joint US-Japanese buyer for the strategic business

April 12, 2017 2:42 AM (UTC+8)

Taiwanese Hon Hai Precision Industry, or Foxconn as it is commonly known, has offered as much as US$27 billion for Toshiba’s computer chip business, reports the Wall Street Journal.

Some in the Japanese government have voiced concerns that the sale to Foxconn, which maintains close ties to strategic competitor China, poses a threat to national security.

Despite this, Toshiba will be hard pressed to refuse the latest bid, with the next highest option only two-thirds of Foxconn’s offer.

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