Chipmaker Rohm Plans Joining JIP For Toshiba Takeover: Report

• Japanese chipmaker Rohm Co Ltd is planning to join Toshiba Corp (OTC: TOSYY) buyout proposal.

• Rohm will join a consortium led by private equity fund Japan Industrial Partners (JIP), which is currently chalking out a proposal.

• The chipmaker is planning to contribute about ¥300 billion out of the proposed ¥2.2 trillion acquisition, Reuters reported.

• The JIP, is reportedly seeking about ¥1.4 trillion from banks and is also urging companies, including Chubu Electric Power Co Inc and Orix Corp, to join the bid.

• JIP’s rival group Japan Investment Corp (JIC), meanwhile has received approval to increase the fund side to ¥900 billion from ¥200 billion.

• Rohm and Toshiba manufacture power management chips for electric cars, electronic devices, and industrial equipment.

• Price Action: TOSYY shares closed higher by 0.38% at $17.31 on Tuesday.

• Photo Via Wikimedia Commons

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