Toshiba’s $19 Billion Chip Sale Delayed as Deadline Missed

technicalstudio | March 29, 2018 | 0 | Tech News

After waiting more than a year to learn the fate of its memory chip business, Toshiba Corp. investors are going to have to hold on a little longer.

The Japanese technology giant said Friday it’s missed an initial deadline to close the JPY 2 trillion ($19 billion) sale of the division by the end of March, pushing back the disposal of its biggest business by at least a month.

The deal with a group led by Bain Capital has so far failed to win approval by Chinese regulators as they weighed the impact on the world’s biggest market for semiconductors. Under the agreement’s terms, the new deadline for closing would then be May 1, and Toshiba would need regulatory approval by April 13 to meet that.

This article was sourced from Gadgets360

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