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Broadcom Said to Win Japan Banks’ Backing for Toshiba Chip

Offering $18 billion

To read this article from Bloomberg, click on:
Broadcom Said to Win Japan Banks’ Backing for Toshiba Chip Bid
Broadcom Ltd. has lined up financing from three Japan banks and private-equity firm Silver Lake as it bids for Toshiba Corp.’s semiconductor business, according to people familiar with the matter.
The lending units of Mizuho Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc. plan to provide about $15 billion in loans, while Silver Lake will add $3 billion in convertible debt, said the people, asking not to be identified because the matter is private. Broadcom is offering about 2 trillion yen ($18 billion) for the chip business, though bids at this stage are non-binding and the offer could change, the people said. The second round of bids are due May 19, they said.

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