Toshiba Misses Its Deadline for a Deal for Its Microchip Unit<br />The company’s admission that it had not completed a deal with its chosen buyers — a consortium of investors from Japan, the United States<br />and South Korea — came as an ugly conflict with a rejected bidder, the American company Western Digital, deepened.<br />Toshiba said it was suing Western Digital for about $1 billion over its attempts to block the sale<br />of the chip unit, while Western Digital said it had submitted a new offer for the business.<br />“We are continuing to negotiate with the consortium,” Toshiba said in a news release on Wednesday,<br />“but coordinating with its various members is taking time, and we have not reached an agreement.”<br />One factor complicating the chip sale has been Western Digital.<br />On Wednesday, Western Digital said it had made a renewed offer with its partner in the bid, the American investment firm Kohlberg Kravis Roberts.<br />The losses at its American nuclear power division, Westinghouse Electric, have cast “substantial uncertainty”<br />over the century-old company’s ability to stay in business, Toshiba has said in financial statements.
