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Mitsubishi Corp. (OTC:MSBHF) is reportedly considering bidding for Fujitsu Ltd.'s (OTC:FJTSF) chip packaging unit Shinko Electric Industries.
Other bidders include Apollo Global Management, Inc. (NYSE:APO), KKR & Co. Inc. (NYSE:KKR), Bain Capital, and government-backed Japan Investment Corp, according to a news report by Reuters, citing two sources familiar with the matter.
Earlier, Fujitsu put its 50% stake in Shinko Electric, worth around $2.6 billion at current market prices, on sale, the report read.
Mitsubishi, owned 8.3% by Berkshire Hathaway Inc. (NYSE: BRK-A), has set up a team to explore the possibility of entering the so-called back-end manufacturing process, the report added.
The sale of Shinko, which is a major supplier to chip companies such as Intel Corporation (NASDAQ:INTC) and Advanced Micro Devices, Inc.(NASDAQ:AMD), may face national economic security issues, the report noted.
Mitsubishi reportedly intends to make a joint bid with one of the potential buyers. However, talks are early, and Mitsubishi has "not decided on a partner," Reuters noted.
A Fujitsu spokesperson told Reuters: "It is true we are considering various options to maximise the value of the independent business, but nothing has been decided at this time."
Nevertheless, there is no guarantee a deal would go through, and it was also not clear if Mitsubishi had engaged banks to advise on the deal, Reuters noted.
