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Toshiba agrees to sell microchip business to Bain group-led buyers

Western Digital was one of the bidders but said it was confident about its legal position in Toshiba's chip business

Reuters  |  Tokyo 

Toshiba Corp said on Wednesday it has agreed to focus on selling its prized chips unit to a group led by Bain Capital and South Korean chipmaker SK Hynix, although it is not ruling out a deal with other bidders. The announcement came after sources told Reuters on Tuesday that Toshiba was now favouring the Bain group after failing to bridge disagreements with rival suitor Western Digital Corp. Wednesday marks the third time the embattled Japanese conglomerate has failed to meet a target date to sell the $18 billion business - the world's second-biggest producer of NAND memory ...

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First Published: Wed, September 13 2017. 14:18 IST