Toshiba Misses Deadline to Sell Chip

Published on: 28 Jun, 2017

Toshiba’s sale of its memory chip unit for $18 billion has been pushed back due to disagreement of opinions within the consortium chosen as the preferred bidder. Western Digital was sued for interfering in the sale one day after the bid was resubmitted for the unit which further complicates this deal.

As a result, Toshiba decided to have a signed agreement for the sale of the chip by today during their annual shareholders meeting. Billions of dollars in cost overruns were also suffered at its Westinghouse nuclear unit and is now bankrupt as Toshiba tries to over come this obstacle.

The consortium for this chip was combined this month led by Japanese government investors and a U.S. private equity firm called Bain Capital chosen as preferred bidder hoping to complete this transaction by the end of the financial year in March.

As the members of this consortium try to settle their differences and opinions, Western Digital swoops in claiming that its partner is breaching joint venture contracts and is actively looking to prevent any deal that doesn’t have consent actions. At the shareholders meeting, Toshiba claims that Western Digital has been interfering in the sale and that their bid for the memory unit is too low in price while also presenting many anti-trust issues. However, their offer of 2 trillion yen ($18 billion) minimum demanded by Toshiba matches the amount offered by the preferred bidder.

Supporting their offer, Western Digital claims that they will also provide debt financing to facilitate a sale. A state-backed fund, the Innovation Network Corp of Japan (INCJ) as well as currently preferred bidder consortium, the Development Bank of Japan (DBJ) would be invited to join the resubmitted offer.


  • 2862Views
  • 9Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Ariana Cheong



Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

06 Jun, 2017 3893
07 Jul, 2017 2949
12 Jul, 2017 2784
14 Jul, 2017 2921



Apr 05, 2023 at 09 21 pm

Nicely put, Thanks a lot.
customer service writing how to right a college essay



Apr 05, 2023 at 09 21 pm

Cheers! Ample advice.
research paper writing service india custom term paper writing service writing a phd proposal business proposal writing service



Apr 05, 2023 at 09 21 pm

You expressed that fantastically!
who can i pay to do my math homework help me do my homework coursework writing service i didn t do my homework poem



Apr 09, 2023 at 12 59 am

Awesome information. Many thanks!
hire a writer for essay what should i write my descriptive essay about in a good narrative essay the writer makes a point



Apr 11, 2023 at 12 10 am

You've made your point!
can you pay someone to write an essay pay to have a paper written



Apr 11, 2023 at 01 01 am

Superb postings. With thanks!
do essay for me writing my essay write my english essay



Apr 11, 2023 at 07 48 pm

This is nicely said. .
online casino pa best pa online casino baccarat casino online



Apr 12, 2023 at 07 46 am

You actually stated that fantastically.
best essay writers of all time write my essay custom writing someone to do my essay for me cheap



Apr 13, 2023 at 08 22 am

You actually suggested that fantastically.
write my essay in 6 hours what should i write my college essay about quiz steve earle please write a song for me