During an extraordinary shareholder’s meeting on Tuesday, October 24, Toshiba won shareholder approval for its sale of Toshiba Memory to a US-South Korean consortium.
The consortium includes the state-backed Innovation Network of Japan, the state-owned Development Bank of Japan and chipmaker SK Hynix of South Korea.
Last month, Toshiba picked a group led by investment fund Bain Capital as its buyer for the world’s second-largest maker of NAND flash memory chips used in smartphones and PCs after a chaotic, months-long bidding process.
The meeting did not address options for a scenario in which the sale of the memory chip business does not go through. Toshiba President Satoshi Tsunakawa said, “What happens if we cannot sell Toshiba Memory is a hypothetical question, but we will need to consider various measures depending on environmental changes. We will continue to focus on selling the unit, avoid delisting and improve our financial standings.”
Full Content: Japan Today
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Walmart Withdraws and Refiles Antitrust Review Application for Vizio Acquisition
Mar 28, 2024 by
CPI
Apple Prevails in Dismissal of Crypto-Payment Antitrust Lawsuit
Mar 27, 2024 by
CPI
Amazon Fined in Poland for Misleading Customers
Mar 27, 2024 by
CPI
Credit Card Rewards Under Threat as Visa, Mastercard Settlement Impacts Swipe Fees
Mar 27, 2024 by
CPI
UK Fashion Giants Commit to Honest Environmental Claims
Mar 27, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI