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Western Digital seeks $464 mn from Apple to help finance Toshiba chip bid

Toshiba's key chip plant is leading a $17- $18 billion bid for the chip business, sources said

Western Digital seeks $464 mn from Apple to help finance Toshiba chip bid

Workers prepare the New Year's eve numerals above a Toshiba sign in Times Square Manhattan, New York City, U.S., December 26, 2016. Picture taken December 26, 2016 (Photo: Reuters)

Reuters Tokyo

A group including Western Digital is seeking around 50 billion yen ($464 million) from Apple Inc to help finance a bid for Toshiba Corp's memory chip unit, Kyodo news agency reported on Friday.

Western Digital, which jointly invests in Toshiba's key chip plant, is leading a $17- $18 billion bid for the chip business, sources have said. The sources said earlier in the week that the US firm offered to step back from the consortium's financing in return for a stronger position in their joint venture.

A Western Digital spokeswoman said it could not comment on details of the talks.

 

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First Published: Sep 08 2017 | 4:23 PM IST

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