Toshiba board reaches no verdict on new Western Digital chip proposal: sources

Toshiba has been on the Tokyo stock exchange's supervision list since mid-March as it has failed to clear up concerns about its internal controls after a 2015 accounting scandal. — Reuters

TOKYO: Toshiba Corp's board, under pressure to clinch a deal for its prized memory chip unit soon, met on Sept 6 to review a revised bid proposed by Western Digital Corp but no agreement was reached, people familiar with matter said.

The latest twist in a tortuous series of revised bids and changing alliances among suitors has seen Western Digital – which has been at loggerheads with Toshiba – offering to drop out of the bid it is organising if that will help get a deal done and other conditions are met, separate sources said on Sept 5.