Toshiba’s chip sale wins reg­u­la­tory ap­proval

The Hamilton Spectator - - Business -

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.

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