The three private firms are weighing bids of more than $10.2 billion for Philips Electronics NV’s semiconductor unit.



According to Wall Street Reuters, the unit will make chips for consumer electronics, car and household appliances.



Kohlberg Kravis Roberts & Co is teamed with Silver Lake Partners; Permira Advisors has teamed with Texas Pacific Group and Blackstone Group. In final, Bain Capital Inc., Apax Partners and Francisco Partners Management teams are there.



According to Philips, the company is going to sell an initial public offering of the chip by end of 2006. Last year company has sales of $5.8 billion.



Via: eWeek