At the Taiwanese company’s annual shareholder meeting, chairman Terry Gou called the process “a big scam of the high-tech sector,” accusing the Japanese government’s economic branch of “bureaucratic politics”. Two Japanese state-backed groups are supporting South Korean firm SK Hynix while US-based Bain Capital is providing most of the offer’s equity.
“The Toshiba case is not yet over. It is very similar to the Sharp deal,” Gou said, looking back at the somewhat perilous path it took to gain control of display-maker Sharp — a tech peg of a very introverted Japanese economy.
Toshiba opened an auction to sell its memory chip business earlier this year and has reportedly entertained prospectives from Google, Samsung and even Apple. The company that’s best known for the iPhone is currently said to be backing Foxconn, its largest components and assembly contractor.
Agence France-Presse also reports that Gou wants a larger Sharp presence in China while also partnering with SoftBank for a $7 billion US factory and is looking to spend more than $10 billion in the states over the next five years for a project “Flying Eagle”.