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Toshiba announces memory-chip spinoff for sale, regulatory approval may take time if rivals bid

By Toko Sekiguchi ( February 24, 2017, 10:15 GMT | Insight) -- Toshiba announced Friday that it will spin off its semiconductor business, in an attempt to stay afloat after a crippling accounting scandal and a multi-billion-dollar write-down of its US nuclear equipment subsidiary. MLex has learned, however, that global merger reviews may pose a bump in the road for Toshiba, because its top competitors are said to be showing interest in buying the newly-created memory chip company, Toshiba Memory Corporation.Toshiba announced Friday that it will spin off its semiconductor business, in an attempt to stay afloat after a crippling accounting scandal and a multi-billion-dollar write-down of its US nuclear equipment subsidiary....

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