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Reuters first with news Japan to vet bidders in Toshiba chip sale for national security risks

Reuters first with news Japan to vet bidders in Toshiba chip sale for national security risks

Reuters was alone in reporting that the Japanese government, fretting over the future of Toshiba’s flagship memory chips unit, is prepared to block a sale to bidders it deems a risk to national security. The government would use Japan’s foreign exchange and foreign trade laws to control the auction if need be. Toshiba is rushing to sell most or even all of the unit – the world’s second-biggest NAND chip producer - which it values at US$13 billion. Such a move could help U.S. bidders like Western Digital, rival Micron Technology and financial investors like Bain Capital.