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Toshiba to step up chip talks with Bain, Western Digital still in running: Nikkei
September 13, 2017 / 3:35 AM / 7 days ago

Toshiba to step up chip talks with Bain, Western Digital still in running: Nikkei

FILE PHOTO - A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) - Toshiba Corp (6502.T) has signed a memorandum to step up talks to sell its memory chip business to a group led by private equity firm Bain Capital and chipmaker SK Hynix Inc (000660.KS), the Nikkei newspaper said on Wednesday.

But the struggling Japanese conglomerate also plans to continue talks with Western Digital Corp (WDC.O) which is leading a rival group bidding for the $18 billion semiconductor unit, the report said.

Toshiba said it had no comment.

The report comes after the Toshiba’s board met earlier in the day. Sources told Reuters on Tuesday that Toshiba now favored the Bain group after failing to bridge key gaps in talks with business partner and rival bidder Western Digital.

Reporting by Makiko Yamazaki; Editing by Edwina Gibbs

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