Toshiba Board Members Back Foxcon

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Toshiba Board Members Back Foxconn Bid
Some board members of Toshiba are making a last-minute push to accept Foxconn’s bid for its NAND memory-chip manufacturing unit, according to the Wall Street Journal.

Foxconn, formally known as Hon Hai Precision Industry, has offered $18.4 billion for the unit, according to the report citing people directly involved in the discussions. The bid is slightly more than the offer from a consortium led by Bain Capital, which reportedly made a revised last-ditch offer valued at around $18 billion last week. It also beats an offer from U.S.-based Western Digital, although the recent reports suggest a deal between Western and Toshiba had run into difficulties.