The Sankei Shimbun added Bain will get the biggest share of voting rights at 49.9 percent, followed by Toshiba's 40 percent, and 10.1 percent for the two other Japanese companies.
Massive writedowns on its United States nuclear business coupled with the aftermath of the 2015 accounting scandal have put Toshiba under intense pressure from the company's biggest lenders to sell its prized asset ahead of a March 2018 deadline. A number of major tech companies showed an interest in the deal, including Foxconn and Apple Inc., and Toshiba ultimately decided on a consortium of that included several businesses that use its chips in their products. In that case, three joint ventures between Toshiba and Western Digital would not be transferred to Bain at closing and the purchase price would be adjusted, the person said.
Things, however, fell through a day before Toshiba made the final decision.
SK hynix said, however, Toshiba's talks with multiple bidders have not yet concluded.
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Fellow storage giant Western Digital had been thought to be in pole position to snap up Toshiba's operation, with shares in the company falling following the Bain Capital news.
Late on Tuesday, sources had said Toshiba was leaning toward selling the business to its U.S. joint venture partner Western Digital Corp. Under the agreement, Bain, Toshiba, SK Hynix Inc. and Japan's Hoya Corp. will pay about 960 billion yen for common and convertible stock, while Apple, Dell, Kingston Technology Co. and Seagate Technology Plc will spend about 440 billion yen for convertible and non-convertible preferred stock, the person said.
If it doesn't, it won't have the billions of dollars it needs to plug a huge hole in its finances caused by its now bankrupt US nuclear unit Westinghouse, and could be delisted.