Toshiba Reportedly Shortens Bidders List For Semiconductor Business

(RTTNews) - Toshiba Corp. (TOSYY.PK, TOSBF.PK) of Japan is reportedly reduced the list of bidders for its semiconductor business. According to Bloomberg, Toshiba and the Japanese government like to sell the business worth around 2 trillion yen or $18 billion to a domestic buyer. However, there have been bids from around 10 players, including U.S. private-equity firm Silver Lake Partners, U.S.-based Western Digital and American chipmaker Broadcom Corp. The Japanese conglomerate has reportedly cut short the list and the final tally includes Hon Hai Precision of Taiwan and Hynix of South Korea.

The decision of Toshiba will be revealed before the general shareholders meeting in June. The plan to sell a majority stake is to fill the hole in its finances left by nuclear unit Westinghouse Electric's bankruptcy filing.