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Western Digital resubmits bid for Toshiba chip unit at last moment

Staff Writer |
Western Digita said it and U.S. private equity firm KKR & Co have resubmitted a bid for Toshiba Corp's prized flash memory chip unit.

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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 a group led by the Japanese government and including Bain Capital which has offered around 2 trillion yen ($18 billion) - by Wednesday, the day of its annual shareholders meeting.

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

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