AFP, Tokyo :
Cash-strapped Japanese industrial giant Toshiba said Wednesday it had picked a US-led consortium as the leading candidate to buy its prized chip business in a deal reportedly worth some $18 billion.
The development was the latest twist in a long-running saga as Toshiba agonises between three groups of suitors for its lucrative chip business.
The Bain Capital-led group also includes the state-backed Development Bank of Japan and South Korean chipmaker SK Hynix.
Toshiba said in a statement that its board of directors had “determined to continue negotiations with the Bain-led consortium,” which had come up with a new proposal.
Cash-strapped Japanese industrial giant Toshiba said Wednesday it had picked a US-led consortium as the leading candidate to buy its prized chip business in a deal reportedly worth some $18 billion.
The development was the latest twist in a long-running saga as Toshiba agonises between three groups of suitors for its lucrative chip business.
The Bain Capital-led group also includes the state-backed Development Bank of Japan and South Korean chipmaker SK Hynix.
Toshiba said in a statement that its board of directors had “determined to continue negotiations with the Bain-led consortium,” which had come up with a new proposal.
