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Apple Signs onto the Bain Capital Deal for Toshiba Memory without Details of their Negotiated Terms Revealed

1AF COVER SEPT 2017 - TOSHIBA MEMORY CORP

 

Yesterday Patently Apple posted a report titled "SK hynix officially Signs on to the Toshiba Memory Corp Deal as Apple and Toshiba Continue to Negotiate." While the details of Apple's negotiated terms have not been made public, today we learn that Apple is noted as being onboard the official 'Signing of a Share Purchase Agreement with a Bain Capital-Led Consortium for the Sale of Toshiba Memory Corporation.' The full document as published by Toshiba is presented in our report in the form of Scribd document.

 

The document notes that US investors are comprised of Apple Inc., Kingston Technology Corporation, Seagate Technology plc, and Dell Technologies Capital. The report further notes that "US investors will not acquire any common stock or voting rights over TMC [Toshiba Memory Corp.]."

 

The report also notes that "SK hynix will be firewalled from accessing TMC proprietary information and will not be permitted to own more than 15% of the voting rights in Pangea or TMC for a period of 10 years as provided by the terms of the agreement."  

 

1 Toshiba - Bain Share Purchase Agreement by Jack Purcher on Scribd

 

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