Toshiba chooses US-Japan suitor

Source: Xinhua | 2017-06-22

Money-losing Toshiba Corp said yesterday that it has chosen a bid, totaling about 2 trillion yen (US$18 billion), from a US-Japan consortium as the preferred proposal in the sale of its lucrative memory chip business, Toshiba Memory Corp. Toshiba needs money after taking massive losses in its US nuclear operations that have put its survival in doubt. But Western Digital of the US, which has acquired some SanDisk chip operations, including a joint venture with Toshiba in Japan, reiterated its opposition to such a move.