Toshiba gets approval to sell its memory business for $18 billion
by from Techreport on (#3QHBG)
Troubled Japanese firm Toshiba Corporation has gotten the final stamp of governmental approval it needed to sell off its memory chip business, known as Toshiba Memory Corporation (TMC). In a statement released today, Toshiba says the final sale of all TMC shares to K. K. Pangea will happen on June 1. The sale price comes out to 2 trillion, or around $18 billion.
If (like I was) you're wondering who K. K. Pangea is, you can more or less think of it as "that company that bought TMC." K. K. Pangea was specifically formed to be the front-end of ...