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Activist fund says Toshiba chip unit worth as much as $40 billion

Toshiba Memory, the world's No. 2 producer of NAND chips, is due to be sold for 2 trillion yen ($18.6 billion)

Reuters  |  TOKYO 

A Hong Kong-based activist investment fund said Toshiba Corp's chip unit was worth as much as $40 billion, double the sale price agreed with a Bain-led consortium, as it escalated its opposition to the deal. Argyle Street Management is seeking to persuade Toshiba to either negotiate a higher price or list the unit, highlighting concerns that the Japanese conglomerate agreed to sell it too cheaply while in the throes of a financial crisis last year. The fund, which has $1.3 billion under management, says other activist investors are on its side, but it is not clear how much ...

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First Published: Fri, April 06 2018. 19:24 IST