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.
Roughly 6.7 billion shares changed hands on US exchanges compared with the 6 billion average for the last 20 sessions. That compares with the 5.9 billion daily average for the past 20 trading days, according to Thomson Reuters data.
An electrical worker repairs stop lights the morning after Hurricane Irma swept through Naples, Fla., on September 11, 2017. Most of the remaining outages were in Florida Power & Light's service area in the southern parts of the state.
The administration must decide in mid-October whether it will certify that Iran is still in compliance with the agreement. He also decried the "disastrous rule" of Venezuela's Nicolas Maduro and urged the U.N.to step in.
Numerous displaced have arrived with horrific tales of killings and rapes by Myanmar's security forces and Buddhist militias. About 412,000 fled to Bangladesh , but some have also reached India, Nepal and Pakistan in recent weeks.
As if the Caribbean islands haven't had enough wind and rain from Hurricane Irma , there's a new storm about to batter the region. Jose is whipping up risky surf and rip currents as it heads north over the Atlantic off the heavily populated Eastern Seaboard.
Trump promised to "cancel" the Paris Agreement during his presidential campaign, but his own White House was split on the issue. During his June announcement, Trump downplayed the prospects of finding areas of agreement with other participating countries.
It doesn't get any easier for the Giants , either, not with road games against Philadelphia and Tampa Bay in the next two weeks. Matthew Stafford is making the leap from very good quarterback to a great franchise quarterback in front of our eyes.
Rand Paul (R-Ky.) has said he would vote against it, arguing that it does not go far enough in repealing the Affordable Care Act . CBO said Monday it "is aiming to provide a preliminary assessment of the Graham-Cassidy bill by early next week".
Liverpool manager Jurgen Klopp has reassured Alex Oxlade-Chamberlain he has not made a mistake in coming to Anfield. Another peripheral first-team player in contention to feature for Liverpool is Jon Flanagan.
Dozens of states sign nuke weapons ban treaty at UN
General Assembly: "It will be a great pity if this agreement were to be destroyed by rogue newcomers to the world of politics". Costa Rican President Luis Guillermo Solis said supporters of the treaty regretted the nuclear-armed nations' position.
Explaining the Graham-Cassidy Repeal Bill
That's nearly certainly not true, given the Medicaid expansion rollback that would take place under the bill. Kimmel acknowledged that some viewers might object to the overtly political message of his monologue.
Apple Watch Series 3 is having connectivity issues
Apple confirmed that its new Series 3 Apple Watch can encounter problems connecting to a cellular network. In fact, AT&T, T-Mobile, and Verizon offer service packages dedicated to Apple Watch Series 3.
Kenya's presidential re-run may be postponed
Armed police patrolled the entrance to the court and trucks filled with security forces were parked outside the building. The constitution dictates the poll take place within 60 days of the Supreme Court's ruling, which is October 31.
Alec Baldwin just majorly dissed President Trump
Alec has had three kids with his wife in the last three years but in 2017 thus far, the pair hasn't conceived for the fourth time. Producer Lorne Michaels nailed the short speech requirement, accepting a statue for Best Comedy Series for Saturday Night Live .
Iraq SC orders suspension of Kurdistan referendum
At the same time, the Kurdistan Region is moving forward with its historic referendum on independence scheduled for Sep. 25. Russian oil giant Rosneft said today that will soon finalise a deal to develop pipelines in the Kurdistan region of Iraq.
Toys R Us could be close to filing bankruptcy
But in a statement sent to various media outlets, chairman and CEO Dave Brandon was optimistic about the future of the chain. The retail giant has now announced its north American arm is seeking " Chapter 11 protection" from the US Bankruptcy court.