Deals
KKR Said to Be Wooing Apple to Switch Sides in Toshiba Bid
- IPhone maker allied with Bain Capital in chip unit deal
- Toshiba facing March deadline to sell unit or be delisted
KKR Trying to Persuade Apple to Switch on Toshiba
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KKR & Co. is trying to persuade Apple Inc. to switch sides and join the private equity firm in a bid for Toshiba Corp.’s flash memory chip business, according to a person familiar with the discussions.
The pitch comes just days after the Japanese company said its board agreed to sell the unit to another group, led by Bain Capital, that included the iPhone maker, Dell Inc., SK Hynix Inc. and Seagate Technology Plc for for 2 trillion yen ($18 billion). Apple has yet to agree to final terms with Bain and is negotiating the volume of chips to be supplied, another person familiar with the matter has said.