Deals
Bain Seeks $7 Billion From Apple for Toshiba Chips Bid
Toshiba Agrees to Sell Chip Unit to Bain-Led Group
This article is for subscribers only.
Bain Capital is seeking more financial support from Apple Inc. as it tries to seal its acquisition of Toshiba Corp.’s memory chips business, according to a person familiar with the matter.
The U.S. buyout firm is now asking the iPhone maker for about $7 billion in capital, up from a previous agreement for about $3 billion, said the person, who asked not to be identified because the matter is private. The revised proposal would include about $1 billion for equity and $6 billion in debt, the person said, a part of a total bid of roughly $19 billion. Apple representatives did not immediately respond to requests for comment.