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
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.