Toshiba Corp. has once again decided to hold off on making a decision on the buyer of its chip unit at a board meeting as negotiations with a Western Digital Corp.-led group have stalled, sources said Tuesday.
Toshiba is scheduled to hold a board meeting Wednesday but will not be able to pick a buyer for Toshiba Memory Corp. as expected because it is now also looking at a bid made by a Japan-U.S.-South Korean consortium it had initially picked as its favored bidder.
The consortium, which includes the Innovation Network Corp. of Japan, the Development Bank of Japan, U.S. fund Bain Capital and South Korean chipmaker SK Hynix Inc., has offered to pay ¥2.4 trillion ($21 billion) for Toshiba's chip unit.