Stefan Mileschin

Toshiba has selected a consortium as their preferred bidder in the sale of Toshiba's memory business. The consortium is led by the Innovation Network Corporation of Japan, an investment partnership between the Japanese government and 26 Japanese corporations. Other major partners in the winning consortium include Bain Capital and competing memory manufacturer SK Hynix. Toshiba hopes to have an agreement in place in time for their June 28 annual shareholder meeting and to close the deal by March 2018.

Meanwhile, Western Digital continues to object to Toshiba's efforts to spin off and sell their portion of the Toshiba–SanDisk joint venture. Western Digital has not been able to keep pace in the bidding war for Toshiba's memory business, and they are seeking to intervene in any attempt by Toshiba to conduct a sale without consent from Western Digital's SanDisk subsidiary. In May, Western Digital initiated arbitration proceedings against Toshiba, and last week Western Digital filed for a preliminary injunction to prevent Toshiba from selling the memory business until the arbitration is resolved. A hearing on the injunction request is scheduled for July 14.

http://www.anandtech.com/show/11564/...emory-business