Toshiba signs memorandum to accelerate chip sale talks with Bain group


TOKYO (Reuters) – Toshiba Corp (6502.T) 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 (000660.KS).

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 (WDC.O) and by Taiwan’s Foxconn, formally known as Hon Hai Precision Industry Co (2317.TW).

Reporting by Makiko Yamazaki; Editing by Edwina Gibbs

Our Standards:The Thomson Reuters Trust Principles.

Source link

Products You May Like

Articles You May Like

Iranian oil tanker wreck produces two slicks in East China Sea: China
Japan sees little chance of oil slick from sunk tanker reaching its co
Google announces patent agreement with Tencent amid China push
Car plows through Copacabana sidewalk, kills baby, injures 15
Factbox: Trump on Twitter (Jan 14) – WSJ interview, DACA, tax cuts

Leave a Reply

Your email address will not be published. Required fields are marked *