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Toshiba Receives Bid As High As $3.6 Billion For Chip Business Stake: Source

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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FILE PHOTO - Toshiba's used-memory chips are seen at an electronics shop in TokyoToshiba Corp has received an offer as high as 400 billion yen ($3.6 billion) for a 19.9 percent stake in its flash memory business, with other bids as low as 200 billion yen, a person directly involved in the deal told Reuters. Suitors include rivals SK Hynix Inc and Micron Technology Inc, and financial investors like Bain Capital. The Japanese conglomerate was seeking to raise around 300 billion yen from the stake sale, said the source, who declined to be named because he is not authorized to speak to the media.




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