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Western Digital resubmits bid for Toshiba chip unit at last moment

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Toshiba
Technology   Western Digital jointly runs the main semiconductor plant

Western Digita said it and U.S. private equity firm KKR & Co have resubmitted a bid for Toshiba Corp's prized flash memory chip unit.

Western Digital, which jointly runs Toshiba's main semiconductor plant, has been feuding bitterly with its Japanese partner over the sale of the world's No. 2 producer of NAND chips and has sought a U.S. court injunction to prevent any deal that does not have its consent.

Toshiba is seeking to sign a definitive agreement with a group led by the Japanese government and including Bain Capital which has offered around 2 trillion yen ($18 billion) - by Wednesday, the day of its annual shareholders meeting.

Western Digital will provide debt financing to facilitate a sale as part of the bid, the U.S. firm said in a brief statement.


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