Sunday, 20 May, 2018

China approves Toshiba's chip unit sale to Bain, reports Japan's NHK

China approves Toshiba's plan to sell memory unit China approves Toshiba's chip unit sale to Bain, reports Japan's NHK
Patty Aguilar | 18 May, 2018, 12:42

In addition, Toshiba will retain a 40 per cent stake and, together with technology firm Hoya, will ensure that Japanese companies retain a controlling stake of just over 50 per cent. Xi Jinping confidante Liu He is now in Washington to discuss the trade dispute.

"Today we received written approval for the acquisition of Toshiba Memory Corporation from the antitrust authorities in China", Bain said in a statement.

The government of China will not stand in the way of the Toshiba Memory Corporation's sale to United States investment house Bain Capital.

"The parties will now take necessary procedures to close the transaction, which is currently expected to occur on June 1, 2018", Toshiba revealed today (PDF).

US Air Force apologizes for 'Yanny or Laurel' Afghan war tweet
The "Yanny or Laurel" reference was to a popular Internet meme in which an audio recording is played. "We apologize for the earlier post regarding the A-10", the Air Force said in a follow-up Tweet.

Jethmalani moves SC against Karnataka Guv's decision
Moreover, BS Yeddyurappa had issued transfer orders for four IPS officers including the Superintendent of Police of Ramanagaram. Rahul taking to his Twitter handle said that this day India will mourn the defeat of democracy. "This is not the system".

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An official told IANS that most vehicles trapped beneath tonnes of concrete and iron have been removed. Deputy Chief Minister Keshav Prasad Maurya and another minister Neelkanth Tiwari rushed to the site.

The approval for the Bain consortium may raise hopes that Beijing will also give the greenlight to Qualcomm's proposed US$44 billion takeover of rival NXP Semiconductors.

The chip-making arm of SK Group is part of a consortium led by U.S. investment firm Bain Capital.

It already had the green light from Korean, U.S., Japanese and European authorities, but awaited approval from China. The Bain consortium past year won a long and highly contentious battle for the business.

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