Toshiba announces delay in sealing deal on chip unit sale

Toshiba Corp. announced a delay Wednesday in closing a deal with a Japan-U.S.-South Korean consortium on the sale of its chip unit, saying it needs more time to reach an agreement.The Japanese conglomerate had said it would close the deal by Wednesday when it holds its shareholders' meeting. Last Friday, company President Satoshi Tsunakawa said it was possible to finalize the deal on schedule after selecting the group as a preferred bidder."It is taking time to reach a consensus because the consortium comprises multiple parties, and closure was not achieved by Toshiba's primary target date,…READ FULL ARTICLE