Toshiba continues talks with bidders for $18 bln Memory unit sale

Toshiba Miss Deadline For Chip Business Deal

The beleaguered Japanese conglomerate confirmed that it tried its best to seal a deal but failed to come to an agreement with any of the interested parties.

In an effort to stay afloat, the company is selling off its profitable NAND manufacturing arm, which is the world's second largest manufacturer of flash chips. Western Digital's group is said to be working to increase its bid to 2 trillion yen. "Meanwhile, Samsung is showing drive in the 3D NAND market, including building a factory dedicated to 3D NAND". Western Digital would loan money for the initial purchase with rights to take a minority equity stake in the future, the people said.

Toshiba's huge troubles in its Westinghouse nuclear power business have apparently cost it a fair chunk of change. Bain had previously submitted a $19 billion offer with another group that included state-backed Innovation Network Corp. of Japan and Development Bank of Japan.

Combined, Toshiba and Western Digital could be nearly as large as Samsung's memory unit, which could give a combined company more negotiating leverage against Apple.

JJ Watt raises Houston fundraiser goal to $10 million
The Texans rerouted to Dallas after their game this weekend and will travel back to Houston when it's safe. So I wanted to do whatever we possibly could, and I knew that I wanted to get out in front of it quick.

By taking part in the bidding, Apple could help ensure a competitive supply chain and lessen its dependence on the chip division of Samsung, a key rival in the smart phone business. -South Korean Bain Capital consortium as the preferred bidder. Toshiba would also keep a share of the business and contribute about 200 billion yen to the deal. They say the two were struggling to come to an agreement over the USA company's future stake in the business. Kaori Hiraki, Toshiba's spokeswoman, declined to comment on details of the deal negotiations. Western Digital has also initiated legal action that threatens to derail any deal that does not have its consent.

"Western Digital and Toshiba really need each other because they can't compete against Samsung without partners", he added. Toshiba had been progressing in talks with Western but Bain Capital is reported to have returned with a bid at the last minute - on Wednesday - which further complicated the issue.

Failure to come to a deal soon could also mean that Toshiba might not be able to obtain necessary regulatory approvals by the end of the financial year in March.

Related:

  • Kenyan Muslims allowed day off for Eid al-Adha

    Kenyan Muslims allowed day off for Eid al-Adha

    While some simply greet each other " Eid Mubarak " on the day, some sacrifice cows, sheep, or goat to mark the celebration. On Eid al-Adha, Muslims dress up in new clothes and offer their prayers.
    The Rock, Kim Kardashian, other stars pledging money to Hurricane Harvey relief

    The Rock, Kim Kardashian, other stars pledging money to Hurricane Harvey relief

    I'm challenging a lot of my celebrity friends to follow my lead and donating $25,000 to Hurricane Harvey to the Red Cross . On Tuesday night, Sandra Bullock donated a whopping $1million (£774k) to the Hurricane Harvey relief fund .
    Rohingya Refugees Drown as They Flee Myanmar

    Rohingya Refugees Drown as They Flee Myanmar

    Satellite imagery analysed by US-based Human Rights Watch indicated that many homes in northern Rakhine state were set ablaze. They fear lack of accommodation and sanitation facilities may lead to abuse of young girls.
  • Second Flower Mound resident diagnosed with West Nile Fever

    Second Flower Mound resident diagnosed with West Nile Fever

    Lake County's first confirmed case of West Nile virus has been detected in a 70 years old Grayslake woman this year. Symptoms can include a headache, fatigue, skin rash, swollen lymph glands and eye pain along with fever.
    US Open | Maria Sharapova feels the respect from athletes

    US Open | Maria Sharapova feels the respect from athletes

    If she can beat Ashleigh Barty next, Stephens would get to the fourth round at a major for the first time in almost 2½ years. Open after dropping the opening set of her second-round match against 59th-ranked Timea Babos of Hungary in a tiebreaker.
    Taylor Swift's diamond bath was apparently worth over £7 million

    Taylor Swift's diamond bath was apparently worth over £7 million

    The single is the first of many from a new Swift album all due for release in November, titled " Reputation ". It has even dethroned Adele's Hello which holds a record 27 million views in the just 24-hour time span.
  • The latest LG flagship V30 is definitely bigger and better

    The latest LG flagship V30 is definitely bigger and better

    But LG has undertaken a transition to OLED for its flagships, and the one on the V30 is superb: bright, balanced, and responsive. This technology is said to deliver a customizable, clear and high-quality sound with the bundled headphones .
    Hurricane Irma Becomes Category 3

    Hurricane Irma Becomes Category 3

    Kottlowski said lots of atmospheric factors will come into play during the next week to determine the path of Hurricane Irma . The National Hurricane Center upgraded Irma's status to a hurricane late in the morning of Thursday, August 31.
    Shakib stars as Bangladesh claims first Test win over Australia

    Shakib stars as Bangladesh claims first Test win over Australia

    But when it came to matching the Aussies with respect to verbal volleys during this Test, Bangladesh were not far behind. But they lost their last eight wickets for 86 runs as Shakib finished with 5-85 in the innings and 10-153 in the match.
  • County clash abandoned after arrow fired

    County clash abandoned after arrow fired

    Oliver Florence, a reporter for our sister title Get Surrey , is at the scene and said he saw armed officers enter the venue. Cricket players were urged to leave the pitch after a crossbow bolt was sacked into the ground.
    Google announces three third-party speakers with Assistant, plus LG appliance integration

    Google announces three third-party speakers with Assistant, plus LG appliance integration

    And, aside from featuring Google Assistant , this speaker from Anker also has Google Cast in addition to WiFi and Bluetooth. Because of that, it paves the way for a two-way conversation interaction between the user and the handset.
    AAP Gets Delhi, Parrikar Sweeps The Panji Bypoll

    AAP Gets Delhi, Parrikar Sweeps The Panji Bypoll

    Having lost two seats that went to polls in Goa, the Congress today alleged that the ruling BJP "indulged in corrupt practises". The result of the by-election, a morale booster for chief minister Arvind Kejriwal and the AAP, was announced on Monday.

Comments

Latest news

Sony unveils premium Xperia XZ1 smartphone, mid-range XA1 Plus at Ifa
With most major OEMs pulling out their big guns for 2017, Sony is also refreshing its lineup to compete against the competition. The phone will be T-Mobile certified, and will be sold through Best Buy starting on October 4th, with monthly payment plans.

Alphabet. Inc's Nest Launches a cheapest thermostat
Former Nest CEO Tony Fadell left the company previous year and Ars Technica detailed other troubles at the time in the company. Nest Labs said Wednesday that it will sell a cheaper Internet-connected thermostat in a bid to get more customers.

Novartis claims first CAR-T approval, setting $475k price tag
Novartis also considered the cost of bone-marrow transplants, which are now given to many leukemia patients whose cancer relapses. Kite Pharma, Juno Therapeutics, and Bluebird Bio are among a growing group of biotech companies working with CAR-T.

The Tax-Reform Challenge
Smith also agrees that lower taxes for businesses and families will lead to a thriving economy. The White House insists that Trump's proposed tax cuts will eventually pay for themselves.

Hurricane Harvey price gouging: Houston gas station charges $20 per gallon
Legal penalties run to as much as $20,000 per occurrence, or up to $250,000 if the victim is 65 or older. Greg Abbott also spoke out against price gouging, calling it "un-Texan".

4th ODI: Virat Kohli, Rohit Sharma sparkle in Colombo with brilliant tons
It was an all-around bowling show by India as Jasprit Bumrah, Hardik Pandya and Kuldeep Yadav all snatched 2 wickets apiece. India continued their unbeaten run in Sri Lanka , beating the home side by 168 runs in the fourth ODI at Colombo .

USA orders closure of Russian Federation consulate in San Francisco
The United States and Russian Federation are in the worst diplomatic relations since the Cold War, experts believe. It wasn't immediately clear whether the Kremlin would return the volley by retaliating for the USA retaliation.

Leicester's Danny Drinkwater submits transfer request to join Chelsea
Leicester City midfielder Danny Drinkwater has handed in a transfer request in a bid to force a move to Chelsea . However, Chelsea boss Antonio Conte wants a replacement for Nemanja Matic .

Samsung gets moving with Gear smartwatch, smartband, smartbuds
The charging case is smaller than before, supports quick charging and you can get a full charge of it (total capacity of 340 mAh). But Samsung chose Berlin - namely the annual IFA consumer electronics show - to unveil a trio of brand new smart watches.

Mattis assembling panel to discuss transgender troops
The White House had said that transgender people would be allowed to continue serving until Mattis had completed such an analysis. The effective dates for all three changes are in 2018.

IS convoy reaches east Syria after ceasefire
His comments came in a speech in which he declared Hezbollah victory in the war against ISIS on the Leabanese border with Syria. On Monday, dozens of Lebanese soldiers were seen manning positions on a string of hilltops in Jurud Ras Baalbek.

Former 49ers outside linebacker Ahmad Brooks visiting Green Bay
Both dropped out of last week's preseason game - Matthews with a groin injury and Perry with an sprained ankle. However, Rapoport said the Denver Broncos are interested in signing him as well.

New Uber CEO Dara Khosrowshahi's first words to staff
Who could the next CEO of Uber be? The back-and-forth has also featured interjections from people loyal to Mr. At Expedia, Khosrowshahi has been an outspoken chief executive, since 2005.

Halo Mixed Reality Experience in Development
To be clear, the actual entertainment experiences are all based in virtual reality, as we learned during a hands-on preview. " Virtual reality enthusiasts know that Steam is a great place to enjoy cutting-edge immersive experiences.

Amazon will finally let you sync music from multiple Echo speakers
Similarly, the Amazon Echo , Echo Dot and Echo Show will be able to use the productivity features, such as calendars, of Cortana . The partnership is a surprising step as numerous major tech companies are battling for a piece of the personal assistant market.

Other news