|Before we accept this as the final word, let's recall that a couple of days ago it was being reported that Toshiba had agreed to sell to WDC.|
Western Digital-led group wins bid for Toshiba chip unit - Nikkan Kogyo
September 11, 2017
Sept 12 (Reuters) - Toshiba Corp has decided to sell its memory chip unit to a group led by Western Digital Corp for about 2 trillion yen ($18.29 billion), Japan's Nikkan Kogyo newspaper said, without citing sources.
continues at finance.yahoo.com
And then, there were also "unnamed sources" who were reporting that the Bain led group had upped their offer to over $22b:
Bain, SK Hynix group ups bid for Toshiba chip unit to $22 billion: sources
TOKYO (Reuters) - A group including Bain Capital and South Korea’s SK Hynix ( 000660.KS) has raised its offer for Toshiba Corp’s ( 6502.T) chip business to 2.4 trillion yen ($22.3 billion) including a 200 billion yen investment in infrastructure, sources familiar with the matter said.
The offer by the consortium, which is led by the U.S. private equity group and the South Korean chipmaker as well as Japanese state-backed investors, was higher than an initial offer of around 1.94 trillion yen, according to the sources who requested anonymity because the talks were confidential.
And now there is this too:
September 12, 2017 / 8:20 PM / Updated an hour ago
Toshiba in chip talks with Bain, but doesn't rule out other suitors
TOKYO (Reuters) - Toshiba Corp ( 6502.T) said on Wednesday it has agreed to focus on selling its prized chips unit to a group led by Bain Capital and South Korean chipmaker SK Hynix ( 000660.KS), although it is not ruling out a deal with other bidders.
The announcement came after sources told Reuters on Tuesday that Toshiba was now favoring the Bain group after failing to bridge disagreements with rival suitor Western Digital Corp ( WDC.O).
Wednesday marks the third time the embattled Japanese conglomerate has failed to meet a target date to sell the $18 billion business - the world’s second-biggest producer of NAND memory chips.
continues at reuters.com
Toshiba's board is completely dysfunctional. IMHO, the government or the courts has to step in to resolve this mess.