Aju Business Daily

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South Korea's major chipmaker SK hynix Inc. joined forces with U.S. private equity firm Bain Capital to take over the memory division of Japanese tech giant Toshiba Corp., market sources said Wednesday.

SK hynix formed a consortium with the Bain Capital to bid for Toshiba's memory unit, which would make the South Korean firm the world's No. 2 player of the NAND flash memory industry, should the deal be successful. SK hynix declined to confirm whether the company actually established the consortium with Bain Capital.

SK hynix is estimated to have suggested two trillion yen (18.4 billion US dollars) for the deal, while Japanese media reported Taiwan's Hon Hai Precision Industry Co. has offered three trillion yen. The South Korean firm plans to invite a Japanese investor for a global-level consortium, with its ties to Bain Capital serving as leverage to secure a competitive Japanese investor, market watchers said.

(Yonhap)