Should Toshiba stick to its word and flog its memory unit to Bain/Hynix for $18 billion?
Or should it kick Bain/Hynix into the long grass on the legalistic pretext that the China competition guys didn’t OK the deal by March 31st which was a contractual condition for the deal?
Is Toshiba obliged to follow the interest of shareholders who could benefit from what Argyle Management Hong Kong says could be a $40 billion IPO?
Argyle is not totally out of the ball-park because Foxconn made a $30 billion bid in the so-called ‘auction’ process for the unit.
And Chinese money would pay a pretty price to get Tosh’s memory technology into Yangtze River’s fab.
All a very tricky dilemma for Toshiba’s incoming CEO.
I bet he hopes that China refuses to give permission for the deal. Then Tosh will be off the hook of its moral obligation to keep faith with Bain/Hynix and will be able to do what it damn well likes with its own memory unit.