Sep 26, 2017

Apple now holds key to Toshiba chip deal

Shizuo Kambayashi / AP

The Toshiba memory chip saga has taken even more new turns in the past 24 hours.

Toshiba joint venture partner Western Digital said that it will seek an injunction to block the unit's sale to a Bain Capital-led group for $18 billion. But that's assuming that there actually is a viable Bain bid. Yesterday Toshiba told lenders that Apple hadn't yet signed the final papers, and Bloomberg now reports that KKR is wooing the iPhone maker to join its rival bid.

Why it matters: The longer this goes on, the larger the risk for Toshiba that it will be delisted from the Tokyo Stock Exchange.

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