Exclusive: Toshiba aims to name buyer of $18 billion chips business on June 15

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TOKYO/SAN FRANCISCO (Reuters) – Toshiba Corp aims to name a winner for its prized semiconductor business next week, people familiar with the matter said on Wednesday, as a row with one of the bidders over the sale appeared to escalate. Sources told Reuters the choice has narrowed to one bid from U.S. chipmaker Broadcom Ltd (AVGO.O) and U.S. tech fund Silver Lake and another from Toshiba chip partner Western Digital Corp (WDC.O) and Japanese government-related investors. Toshiba is rushing to find a buyer for the world’s second-largest producer of NAND chips, which it values at $18 billion or more, to cover billions of dollars in cost overruns at its now-bankrupt U.S. nuclear business Westinghouse Electric Corp.

June 08, 2017 at 01:35AM

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