Last week Patently Apple posted a report titled "Bain Capital along with Apple Offer Last-Ditch Bid for Toshiba's Memory Chip Business." The report noted that a consortium led by Bain Capital and including Apple Inc had offered a revised last-ditch bid for Toshiba Corp's prized memory chip unit worth $18 billion, Japanese broadcaster NHK reported. The same NHK reported back in June that the Bain was the preferred bid for Toshiba. Now Foxconn is back in the news making their case that their bid is the strongest and only politics could derail it.

Bloomberg reports today that "Taiwan's Foxconn Technology Group is pressing its case to acquire Toshiba Corp.'s memory chips unit, as the Japanese conglomerate struggles to complete the sale and avoid having its shares delisted from the Tokyo Stock Exchange.

Foxconn has broad support for its offer from Apple Inc., SoftBank Group Corp. and Sharp Corp. and is ready to proceed right away, said Louis Woo, a spokesman for the company, whose primary listed arm is Hon Hai Precision Industry Co. He declined to specify how much Foxconn is offering for the business, but people familiar with the matter have previously said it is bidding more than the two rival groups led by KKR & Co. and Bain Capital."

Louis Woo added that "The bid speaks for itself. It is deal certainty. What this customer consortium means is that it will provide steady funds to Toshiba to advance their R&D. At the same time, it's a guarantee there will be more customers lining up to buy their products when they increase their capacity or have better products."

Woo detailed the proposed ownership to make the case it is not a Chinese or even Taiwanese bid. Foxconn would hold 25 percent of the equity, Apple 20 percent, Kingston Technology Co. 20 percent, Sharp 15 percent, SoftBank 10 percent and Toshiba would keep 10 percent. 

Woo added that "We just hope the board directors of Toshiba will make decision on commercial terms, on business terms, on technology terms, rather than political terms. We are offering something that I don't think anyone can refuse."

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