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Toshiba gives preferential rights to Western Digital group in talks to sell chip business

( August 24, 2017, 01:43 GMT | Insight) -- Toshiba has given effective preferential negotiating rights to a bidding consortium that includes Western Digital as the Japanese company seeks to sell its semiconductor business, the Asahi newspaper reports. Toshiba has given effective preferential negotiating rights to a bidding consortium that includes Western Digital as the Japanese company seeks to sell its semiconductor business, the Asahi newspaper reports. The consortium also includes Innovation Network Corporation of Japan, the Development Bank of Japan, and US equity fund KKR. The group is proposing to acquire Toshiba's chip operations for about 1.9 trillion yen ($17 billion). The parties are seeking to sign an agreement on Aug. 31. ...

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