Japan’s Toshiba Corp faces a Friday deadline to win Chinese antitrust approval to sell its prized $18 billion memory-chip business by end-March, raising the possibility the deadline may be missed and that it will seek alternatives such as an IPO.
The conglomerate agreed last year to sell the world’s second-biggest producer of NAND flash memory chips to a consortium led by U.S. private equity firm Bain Capital to plug a huge financial hole left by the bankruptcy of its U.S. nuclear unit.
