This commitment is likely to significantly increase its chances of bagging the deal.
The likelihood of Bain Capital bagging the rights to purchase Toshiba NAND memory chip business got better when it confirmed that it would honor “all the contractual terms of the Western Digital joint venture”.
Bain Capital has also confirmed that it has brought in several strategic partners which again will bolster its bid for Toshiba’s memory chip business.
On its part Toshiba has agreed to accelerate talks with the U.S. private equity firm.
In its latest proposal, Bain, who has been working with SK Hynix on an offer for Toshiba’s chip unit, said its latest proposal “brings in a broad list of strategic partners including Apple, Dell, Kingston and Seagate who will provide capital in a sign of industry-wide support for an independent Toshiba.”
While addressing concerns from Toshiba’s joint venture partner Western Digital, it said its rival would have to consent to any deal in the wake of its commitment.