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 technology giant is set to miss an initial deadline to close the ¥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 hasn't yet been approved by Chinese regulators as they weigh the impact on the world's biggest market for semiconductors. Even if clearance comes in the last two days of the month, that's probably not enough time to complete all the processes to make it official. 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.