Tokyo — Western Digital and US private equity firm KKR have resubmitted an offer for Toshiba’s flash memory chip unit, in an 11th hour effort to prevent the conglomerate signing a deal with its preferred bidder. Western Digital, which jointly runs Toshiba’s main semi-conductor plant, has been at loggerheads with its Japanese partner over the sale of the world’s number two producer of NAND chips, and is seeking a US court injunction to prevent any deal that does not have its consent. The resubmission adds to uncertainty about whether Toshiba will sign a pact by Wednesday with the firm’s preferred bidder — a group led by Japanese government investors and including Bain Capital that has offered about ¥2-trillion ($18bn). The crisis-wracked Japanese conglomerate is rushing to sell the unit to cover billions of dollars in cost overruns at its bankrupt Westinghouse nuclear unit and had set itself a deadline of Wednesday to sign what it has called a definitive agreement. Wednesday is the d...
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