Toshiba seals deal to sell chip unit to Japan-U.S.-S. Korea group

Toshiba Corp. signed a deal Thursday to sell its chip unit to a Japanese-U.S.-South Korean consortium for 2 trillion yen ($17.8 billion), ending a prolonged bidding process and taking a major step toward restructuring.The Japanese technology conglomerate announced last week it was selling Toshiba Memory Corp. to the consortium led by U.S. investment fund Bain Capital, rejecting a counterbid from its longtime partner Western Digital Corp.The consortium also includes the state-backed Innovation Network Corp. of Japan, the Development Bank of Japan, South Korean chipmaker SK Hynix Inc. and fou…READ FULL ARTICLE