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Western Digital says resubmitted bid with KKR for Toshiba's chip unit
June 27, 2017 / 6:13 AM / 6 months ago

Western Digital says resubmitted bid with KKR for Toshiba's chip unit

TOKYO, June 27 (Reuters) - Western Digital Corp said it and private equity firm KKR & Co LP had resubmitted a bid for Toshiba Corp’s prized flash memory chip unit.

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

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 its preferred bidder - a group led by the Japanese government and including U.S. private equity firm Bain Capital - by Wednesday, the day of its annual shareholders meeting.

Toshiba did not have immediate comment.

Reporting by Makiko Yamazaki; Editing by Edwina Gibbs

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