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Toshiba Said to Seek Bids for Chip Unit at $13 Billion Value

  • Possible sale price would be below level of earlier reports
  • Japan government has called business ‘extremely important’
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Will Foxconn's Gou Bid for Toshiba’s Chip Business?

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Toshiba Corp. is sending letters soliciting offers for its memory chip business this week and seeking bids that value it at about 1.5 trillion yen ($13 billion), according to people familiar with the matter.

The Japanese conglomerate is offering a majority stake in the chip unit and would be willing to sell the entire business, said the people, asking not to be identified because the matter is private. A 1.5 trillion yen valuation for the whole operation would be below earlier reports the chip unit could fetch 2 trillion or 2.5 trillion yen.