Toshiba, Western Digital Reportedly Eye Price Tag Of $18 Bln For Memory Arm

(RTTNews) - Toshiba Corp. (TOSYY.PK, TOSBF.PK) and Western Digital are hashing out the terms for a sale of Toshiba Memory, eyeing a price tag of around 2 trillion yen or $18.2 billion that would shore up the Japanese conglomerate's finances enough to maintain its stock market listing, the Nikkei reported.

The report noted that Toshiba directors decided Thursday to prioritize negotiations with a consortium including Western Digital as well as U.S. private-equity firm Kohlberg Kravis Roberts, the public-private Innovation Network Corp. of Japan and the state-backed Development Bank of Japan. The two sides aim to reach a deal within the month.

U.S.-based Western Digital jointly invests in chip fabrication facilities with Toshiba.