Bids for Toshiba's chip business reach a reported $3.6B
February 10, 2017
Electronics | Tokyo, Japan
Toshiba (TKO: 6502) has received bids as high as JPY400 billion (about $3.5 billion) in the auction for a 20% stake of its semiconductor unit, roughly $1 billion more than its initial goal, according to Reuters. Nevertheless, the company's shares closed Thursday down more than 3%. SK Hynix, Micron Technology, Western Digital and Bain Capital are among the reported bidders.