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Toshiba Memory's chip fabrication facility in Yokkaichi, Japan.
Business

Toshiba closer to brink of delisting as memory sale stalls

Negotiations drag on, raising risk of no deal by March

| Japan

TOKYO -- Progress is still elusive on talks to sell Toshiba's flash memory unit, putting the beleaguered conglomerate at greater risk of delisting as delays threaten to push the sale -- a vital source of cash -- beyond the fiscal year's end.

Toshiba's board met Wednesday to discuss final offers from the three players still in the race. They are the preferred bidder, a Japan-U.S.-South Korea consortium including private equity firm Bain Capital; an American team of Kohlberg Kravis Roberts and Western Digital; and Taiwan's Hon Hai Precision Industry, better known as Foxconn.

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