>> Shares in trouble, Toshiba slipping in Tokyo, Thursday. As the company raises the seal and $18 billion deal that plugged massive losses and avoided delisting on the stock exchange. On Wednesday, the company announced it's preferred bidders for its successful chip business. A group including US investment giant Bank Capital and Japanese government investors.
A bigger offer was tabled by rival US chip maker Broadcom but Tokyo clearly has some sway in the decision.>>
> Toshiba's semi-conducted business is highly competitive globally. The matter is important in terms of maintaining jobs in Japan.>> Toshiba can't afford to ignore the government because it needs help decommissioning power plants after its nuclear division went bankrupt plunging the company into turmoil.
Executives are scrambling to get a complex deal done by next Wednesday when Toshiba hold its annual shareholders meeting. But time is not on their side and success isn't guaranteed. The company's chip business partner Western Digital has kicked off legal action to prevent the deal going through without its approval.