Report: Apple to put $3 billion into deal to acquire Toshiba’s storage business

In the story that feels like it will never end, Bloomberg reports that Apple is mulling a $3 billion stake in Bain Captial’s bid to purchase Toshiba’s memory chip business. Apple’s involvement in deals to purchase Toshiba’s memory business has wavered, but it now seems that the company is heavily investing in Bain’s bid…

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Apple last week was said to have a hand in all three deals on the table to purchase Toshiba’s chip division, including the KKR bid, which includes Western Digital, as well as the Foxconn and Bain bids. Bloomberg’s report this evening, however, says Apple is mulling a $3 billion investment in the Bain offering, which would seemingly be the steepest amount it has considered thus far.

Bain, a global management and consulting firm, already has support from Dell, Segate, and SK Hynix but now Apple is looking to join the fray:

The iPhone maker is in talks to provide about $3 billion in capital for Bain Capital’s bid for the unit, adding to financial support from Dell Inc.,Seagate Technology plc and SK Hynix Inc., according to people familiar with the matter, Bloomberg News reports.

The deal has not yet been confirmed, but it’s believed an agreement was supposed to be reached today, so we should hear something official soon. Bain was originally leading efforts to buy Toshiba’s chip business with support from Western Digital, but that fell through when WD threatened legal action.

We’ll update when the deal is officially confirmed.

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Avatar for Chance Miller Chance Miller

Chance is an editor for the entire 9to5 network and covers the latest Apple news for 9to5Mac.

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