Toshiba decides on chip suitor

Source: Xinhua | 2017-09-14

Cash-strapped Japanese industrial giant Toshiba said yesterday that it had picked a consortium led by US investor Bain Capital as the leading candidate to buy its prized chip business in a deal reportedly worth some US$18 billion. The development was the latest twist in a long-running saga as Toshiba agonizes between three groups of suitors for its lucrative chip business. The Bain Capital-led group also includes state-backed Development Bank of Japan and the public-private Innovation Network Corp of Japan as well as South Korean chipmaker SK Hynix. — Reuters