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Toshiba signs memorandum to accelerate chip sale talks with Bain group

Reuters  |  TOKYO 

TOKYO (Reuters) - Toshiba Corp said on Wednesday it has signed a memorandum to accelerate talks to sell its memory chip business to a group led by private equity firm Bain Capital and chipmaker SK Hynix Inc.Toshiba said in a statement it now aims to sign a contract by late September but added that the memorandum does not exclude talks with other bidders.The embattled conglomerate said late last month it was continuing to talk with three suitors - the group led by Bain Capital, as well as those led by Western Digital and by Taiwan's Foxconn, formally known as Hon Hai Precision Industry Co. ...

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First Published: Wed, September 13 2017. 13:01 IST