Cook Weighs Apple's Biggest Deal Yet to Protect Chip Supply
- Apple said in talks to invest $3 billion in Toshiba chips unit
- Flash memory is of strategic importance to iPhone maker
Bain's Connaughton Likes Mid-Market, Not Just Mega-Deals
It’s been a busy week for Apple Inc. While Chief Executive Officer Tim Cook showed off the 10th anniversary iPhone in California, his lieutenants worked half a world away on what may become the company’s largest deal ever.
Apple is in talks to invest about $3 billion in Toshiba Corp.’s memory chips business as part of a consortium led by Bain Capital, according to people familiar with the matter. Apple plans to take an equity stake that could total 16 percent in a group that also includes Dell Inc., Seagate Technology Plc and SK Hynix Inc., they said. That support convinced Toshiba to sign a memorandum of understanding with Bain and work toward a final agreement this month, they said. If the agreement is completed, it may exceed Apple’s largest deal yet, the $3 billion acquisition of Beats Electronics LLC.