In another turn in the ongoing saga, it is being reported that Toshiba’s board has shifted back to Western Digital as the potential acquirer of their semiconductor unit, according to people familiar with the deal. This is days after the firm stated that they were siding with a bid that including South Korean chipmaker SK Hynix as well as Bain Capital.
Toshiba’s board is scheduled to meet Wednesday to continue discussions. Toshiba needs to sell its unit in order to shore up its balance sheet and prevent the initiation of the de-listing process from the Tokyo Stock Exchange.