Toshiba offered $17.9 billion for chip unit by Silver Lake and Broadcom
Toshiba offered $17.9 billion for chip unit by Silver Lake and Broadcom:- U.S. private equity firm Silver Lake Partners LP and U.S. chipmaker Broadcom Ltd have offered Toshiba Corp about 2 trillion yen ($17.9 billion) for its chip unit, the Nikkei business daily reported on Friday.
About 10 potential bidders are interested in buying a stake in the NAN flash memory maker, a source with knowledge of the planned sale told Reuters earlier.
Suitors include Western Digital Corp which operates a chip plant with Toshiba in Japan, Micron Technology Inc, South Korean chipmaker SK Hynix Inc and financial investors.
Toshiba wants to make at least 1 trillion yen from the sale of part or all of the business to cover writedowns at its Westinghouse nuclear unit. It says it expects investors to value its chip operations at about 2 trillion yen.
Toshiba is also asking potential bidders whether they intend to resell their stakes and wants to make a decision on the sale before a shareholders meeting in June, the Nikkei said, without saying where it obtained the information.
Toshiba shareholders on Thursday agreed to split off its prized chip unit, paving the way for the sale.
Source:- http://www.reuters.com/article/us-toshiba-accounting-idUSKBN17201K
