Western Digital Corp said it and private equity firm KKR & Co LP had resubmitted a bid for Toshiba Corp‘s prized flash memory chip unit.
As part of the bid, Western Digital will provide debt financing to facilitate a sale, the U.S. firm said in a brief statement.
Western Digital, which jointly runs Toshiba’s main semiconductor plant, has been feuding bitterly with its Japanese partner over the sale of the world’s No. 2 producer of NAND chips and has sought a U.S. court injunction to prevent any deal that does not have its consent.
Toshiba is seeking to sign a definitive agreement with its preferred bidder – a group led by the Japanese government and including U.S. private equity firm Bain Capital – by Wednesday, the day of its annual shareholders meeting.
Toshiba did not have immediate comment.