Shares in Toshiba rose by nearly 5% today as it appeared closer to finalising a $17bn deal to spin off its semiconductor business.
Toshiba´s board was reported to be mulling a revised proposal from California-based computing name Western Digital.
The Tokyo-listed behemoth is under pressure to agree the sale within the next few weeks as it struggles to plug a gaping hole in its finances attributed to writedowns on its US nuclear operations.
Western Digital has proposed to withdraw from a consortium bidding for the chip business, desisting from legal action and rehashing the terms of a joint venture.
The US group has been embroiled in a legal tussle with Toshiba over their chip joint venture and the latter´s spin-off plans.
Western is understood to have proposed to drop out of the bidding for Toshiba´s semiconductor business on condition of securing a better position for itself in the two companies´ chip joint venture.