Apple Stock News: Apple Joins Bid to Buy Toshiba’s $18B Chip Unit

Apple Stock News:

For the latest Apple Stock News, AAPL closed at $164.05 per share on September 1st, 2017. It generated a return of 0.03% from its previous close on August 31st, 2017, when it closed at $164.00 per share.

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A consortium led by Bain Capital has made a revised last-ditch offer for Toshiba’s chip unit worth about $18 billion, bringing in Apple to help bolster its bid, sources with direct knowledge of the matter said.

The revised offer is worth some 2 trillion yen ($18.2 billion). Bain Capital and South Korean chipmaker SK Hynix will be responsible for 1.1 trillion yen, while Apple will provide up to 400 billion yen, which is a little over $3.6B, and Japanese banks will give around 600 billion yen in support.

The offer has not been accepted yet, but it is likely that it will happen. Toshiba’s other option would be with Western Digital, whom they have had a rocky relationship and offered $1.9T instead of $2T.

Apple’s investment has the potential to open huge opportunities, as the memory chip industry is on an ever-increasing demand. In addition, Apple products use these chips. That would integrate Toshiba in Apple’s supply chain and probably will reduce costs, increasing profits.

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