- Toshiba (OTCPK:TOSYY) has set an extraordinary shareholder meeting for 10 a.m. Tokyo time on Oct. 24 to approve its $18B deal to sell its prized semiconductor unit, Toshiba Memory, to a consortium led by Bain Capital and SK Hynix.
- Shareholders will be asked to sign off on that sale as well as the company's annual earnings report and director appointments.
- Shares are down 1.9% late in the trading day in Tokyo.
- Toshiba's decision to go with the Bain consortium even after reports suggested it was favoring Western Digital sent the latter's shares lower Wednesday.
- Previously: Western Digital files arbitration against Toshiba's Fab 6 plans (Sep. 20 2017)
- Previously: Western Digital releases statement on Toshiba selecting other chip bidder (Sep. 20 2017)
- Previously: Bain consortium offering $22B for Toshiba chip unit (Sep. 20 2017)
Toshiba sets meeting to OK sale of chip unit to Bain/SK Hynix
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