Are Apple and Amazon backing Foxconn’s bid for Toshiba? Terry Gou confirms the rumor

The China Post
Date: June 6, 2017
By: The China Post with NOWnews

Hon Hai Precision Chairman Terry Gou confirmed that his company had secured the support of two giant U.S. clients, Apple and Amazon, for its bid for Toshiba, foreign media reported. The report indicates that among the many bidders for Toshiba’s semiconductor business, Hon Hai has the highest bid, which may exceed 2 trillion yen, or roughly NT$540 billion. As for how much the two U.S. firms are contributing, Gou said this was a business secret that could not be revealed.

According to Japanese media outlet Nikkei, Gou, who is currently in Osaka, confirmed during an exclusive interview that for the purposes of its bid for Toshiba’s semiconductor business, Hon Hai had secured the support and financial backing of U.S. giants Apple and Amazon. He said Apple and Amazon had an increasing demand for memory chips, and so the two were contributing an amount of money, though he could not reveal how much was given as that was classified information.

This March, Gou had expressed his intent to take over Toshiba’s semiconductor business. He said that he had studied the case for a long time, and while he could not say that he would win for sure, he underscored that Hon Hai was confident and sincere in its bid. However, there have been statements claiming that Japanese officials did not want the transfer of the key chip technology out of the country. Therefore, there has been speculation that Hon Hai, with a number of plants in mainland China, was unlikely to win the bidding war.    [FULL  STORY]

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