Western Digital offers to exit Toshiba chip bid for better JV terms-sourcesWestern Digital Corp has offered to drop out of a bid for Toshiba Corp’s lucrative semiconductor business in return for a stronger position in the two companies’ chip joint venture, two sources said on Tuesday. Toshiba needs to sell the chip unit to plug a giant hole in its finances caused by the failure of the conglomerate’s U.S. nuclear business, but the deal has snagged on such issues as antitrust concerns if the U.S. disk-drive maker were a major owner. To help close the deal, California-based Western Digital has told Toshiba it is prepared to pull out of a consortium bidding for the business in order to address such concerns, said the sources, one with direct knowledge of the transaction and one who was briefed on this development.

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