Toshiba’s chip sale wins regulatory approval
TOKYO — Japanese electronics company Toshiba Corp. says the sale of its computer memory chip business to a consortium led by Bain Capital Private Equity has cleared all antitrust regulatory approval, including a final one it was awaiting from China. Toshiba said Thursday that means the deal, valued at US$18 billion, can now close by June 1. Tokyo-based Toshiba has been counting on the deal for a turnaround. Its U.S. nuclear operations at Westinghouse Electric Co. filed for bankruptcy last year. Initially, Western Digital opposed the sale of the NAND flash-memory SanDisk joint venture, starting lawsuits. Toshiba first announced the sale in September last year.