Bain-Apple group sign letter of intent to buy Toshiba chip unit

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Source: Market Watch Personal Finance

A group including private-equity firm Bain Capital and technology giant Apple Inc.

AAPL, -0.40%

 signed a letter of intent to buy Toshiba Corp.’s

6502, +0.00%

TOSYY, -1.37%

 chip business for more than $18 billion, according to people familiar with the matter.

An agreement with the group, which also includes Seagate Technology PLC

STX, +3.04%

 and Dell Inc., could be announced later Wednesday in Japan, the people said. It is unclear who else may be in the group and its membership could still change.

An expanded version of this report appears on WSJ.com.

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Write to Dana Mattioli at dana.mattioli@wsj.com

Source: Market Watch Personal Finance