Foxconn's bid for Toshiba's semiconductor chip unit will be assisted by money from Apple and Amazon. Terry Gou, Foxconn's chairman, says both companies will "chip in funds" for the deal. He didn't explain if they'd be investing in the semiconductor business or financing the deal.
Toshiba plans to use its income from the sale to cover billions of dollars in cost overruns from Westinghouse, its bankrupt US nuclear division.
Foxconn, which is based in China, could have a hard time acquiring Toshiba. The Japanese government doesn't appear supportive of the division being picked up by a Chinese entity.
|