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Toshiba chip unit acquisition: Western Digital says it matched rivals' bids

Toshiba wants to sell memory chip business to cover losses from its ailing nuclear reactor division


Western Digital Corp said it matched rival bidders' offers to acquire Japanese conglomerate Toshiba Corp's flash memory unit ahead of a court hearing on Friday over whether to halt the auction process. Western Digital, in court documents filed July 7, said it has made six proposals since February, including a proposal on June 27 matching the best offer. On June 21, Toshiba said its preferred bidder was a consortium of Bain Capital and Japanese government investors offering $18 billion. Since February, Toshiba has been scrambling to sell its memory chip business, the ...

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First Published: Tue, July 11 2017. 17:11 IST