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Bain Capital's $18 billion acquisition of Toshiba Memory Corp receives regulatory approval

The deal has been in hiatus for several months thanks to Chinese Anti-Trust regulators

Bain Capital's $18 billion acquisition of Toshiba Memory Corp has received regulatory approval

Bain Capital's $18 billion acquisition of Toshiba Memory Corp receives regulatory approval

Toshiba's sale of their memory business to Bain Capital was first announced in September 2017, selling the profitable business unit for $18 billion, more than enough to save Toshiba from their financial struggles.

For several months now this deal has been on hold, a transaction which would have ideally been closed as soon as possible to alleviate Toshiba's burdens. This delay was due to Chinese anti-trust regulators, who have taken their time approving the acquisition. Now Toshiba and Bain Capital have the approval of all relevant anti-trust authorities, allowing the purchase to progress.   

Right now, Toshiba says that they want to conclude this deal before on June 1st, closing the deal at their earliest opportunity, finally placing their financial woes behind them. 

As a result of this deal, Bain will create a special purpose acquisition company called Pangea, who will acquire TMC. Toshiba itself will invest $3.1 Billion into Pangea to ensure a stable transfer and ensure investment in the company's infrastructure. Bain has also agreed to place "appropriate restrictions" on Pangea to ensure that TMC's technology will remain secure, as rivals like SK Hynix are investors within the Bain-led consortium. 
  

Bain Capital's $18 billion acquisition of Toshiba Memory Corp has received regulatory approval

  
Below is a statement from Bain Capital regarding their progress towards acquiring TMC, stating that they plan to help "develop and grow" the semiconductor industry. 

    The Bain Capital-led consortium has committed to make significant capital investments to help develop and grow semiconductor technology. This consortium of companies brings together leading industry players who will invest significant resources and work together to help ensure the semiconductor industry remains highly competitive and can respond to fast-changing demands.  


You can join the discussion on Bain Capital receiving regulatory approval to acquire Toshiba Memory Corp for $18 billion on the OC3D Forums

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