SK hynix keeps mum on Toshiba deal

Exclusive - Toshiba flips back to favouring Western Digital group for chip unit sale: sources

A number of major tech companies showed an interest in the deal, including Foxconn and Apple Inc., and Toshiba ultimately decided on a consortium of that included several businesses that use its chips in their products.

Western Digital's exclusion from the deal and worsening relationship with Toshiba may undermine a $15.8 billion bet on the market it made past year in buying SanDisk Corp.to gain access to manufacturing of the chips that are overtaking its computer storage business.

The report went on to say that Toshiba had ceased talks with two rival bids, including one from its joint venture partner in the flash-memory business Western Digital (WDC).

Reuters reported on Wednesday that the decision was made by Toshiba's board and would be announced later in the day.

The move came after Toshiba and Western Digital failed at the last minute to agree on terms of the acquisition deal. The transaction includes Toshiba's $3.1 billion investment in the unit, as well as stakes from Apple Inc.


Bain Capital has partnered with South Korea's SK Hynix Inc and brought in United States buyers of Toshiba chips such as Apple and Dell to bolster its bid.

Western Digital also reiterated that it expected to win its arbitration against Toshiba at the International Chamber of Commerce. Similarly, a bid led by equity group KKR and Western Digital did not progress. The iPhone X maker, however, extended its support to Bain consortium to buy the Toshiba memory chip unit worth $22 billion.

The auction has gone through dizzying twists and turns.

The agreement comes a week after Toshiba said it had signed a non-binding "memorandum of understanding" with Bain, with both sides aiming to reach a deal by the end of September.

Bain then revised its offer too.

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