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Toshiba says open to talks with Western Digital over chip unit sale
June 23, 2017 / 9:18 AM / 3 months ago

Toshiba says open to talks with Western Digital over chip unit sale

Toshiba Corp CEO Satoshi Tsunakawa bows during a news conference after asking regulators for extension on financial filing and deal on chip unit sale, at the company headquarters in Tokyo, Japan June 23, 2017. REUTERS/Issei Kato

TOKYO (Reuters) - Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate’s prized chip unit - an apparent olive branch after it chose another suitor as preferred bidder.

Toshiba would be willing to hold talks but does not expect the composition of the preferred bidder consortium, which includes Bain Capital and Japanese government investors, to change before June 28, Chief Executive Satoshi Tsunakawa told a news conference.

It is aiming to clinch a deal, worth some $18 billion, by June 28, the day of its shareholders’ annual meeting.

Reporting by Makiko Yamazaki; Writing by Sam Nussey; Editing by Edwina Gibbs

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