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Toshiba Is Running Out of Options for Its Chip Business



If insanity is doing the same thing over and over again yet expecting different results, there is something mad in Toshiba’s long-running sale of its memory-chip business.

The latest development is a nonbinding agreement with a group led by private-equity firm Bain Capital. The deal could be worth $19 billion, but talk of numbers is still premature: An actual transaction is hardly closer than it was three months ago, when Toshiba…



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