SK Hynix to bid for Toshiba chip business as part of a consortium

Pedestrians walk past a logo of Toshiba Corp outside an electronics retailer in Tokyo September 14, 2015. REUTERS/Toru Hanai/Files

South Korea’s SK Hynix Inc said on Friday it will submit a final bid for Toshiba Corp’s memory chip business as part of a consortium.

The company did not say what other companies were in the consortium.

People familiar with the matter told Reuters earlier on Friday SK Hynix will be part of a consortium led by U.S. buyout firm Bain Capital LP, which seeks to buy a majority stake in the Toshiba chip business, offering around 1.5 trillion yen ($13.49 billion).

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