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Western Digital resubmitted bid with KKR for Toshiba's chip unit

A logo of Toshiba Corp is seen on a printed circuit board in this photo illustration taken in Tokyo. Photograph: (Reuters)

Reuters Tokyo 27 June 2017 Jun 27, 2017, 07.32 AM (IST)

Western Digital and private equity firm KKR had resubmitted a bid for Toshiba'S prized flash memory chip unit.

As part of the bid, Western Digital will provide debt financing to facilitate a sale, the US  firm said in a brief statement.

Western Digital, which jointly runs Toshiba's main semiconductor plant, has been feuding bitterly with its Japanese partner over the sale of the world's No. 2 producer of NAND chips and has sought a US court injunction to prevent any deal that does not have its consent.

Toshiba is seeking to sign a definitive agreement with its preferred bidder, a group led by the Japanese government and including US private equity firm Bain Capital. The agreement is proposed to be signed by Wednesday, the day of its annual shareholders' meeting.

Toshiba did not have an immediate comment.

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