image: cnet

Western Digital offers to drop bid for Toshiba memory business

September 6, 2017

Via: ZDNet

Western Digital has offered to withdraw from the group bidding for Toshiba’s flash memory chip business with the view of strengthening its position in the firms’ joint venture.

As reported by Reuters, talks have recently stalled over Western Digital’s stake in the chip business, and an agreement has yet to be reached which does not result in a long antitrust review by regulators.

A consortium of companies including Western Digital, private equity firm KKR & Co, and Innovation Network of Japan and Development Bank of Japan previously offered approximately 1.9 trillion yen ($17.4 billion) for the unit.

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