With the clock ticking, stricken Toshiba Corp. failed to reach a final decision Thursday regarding a buyer for its flash memory business.
After a board meeting the same day ¡ª believed to be the deadline sought by Toshiba¡¯s main creditor banks ¡ª the firm, whose debts exceeded assets by ?552.9 billion at the end of March, was widely expected to announce it would sell chip-making spin-off Toshiba Memory Corp. to a consortium led by U.S.-based data storage maker Western Digital, for about ?1.9 trillion.
Instead, amid discussions with other potential buyers, the company released a statement saying ¡°the negotiation with each consortium has not reached the point which will allow Toshiba¡¯s Board of Directors could (sic) make a decision¡°, and that no ¡°decision to reduce the pool of candidate purchasers of TMC¡± has been made.
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