By Benjamin Horney (May 8, 2017, 6:36 PM EDT) -- KKR & Co. LP and Innovation Network Corp. of Japan have made a preemptive bid to buy Toshiba's highly sought-after chip business that could be worth as much as 2.1 trillion yen ($18.5 billion), Bloomberg reported on Monday. According to the report, Western Digital Corp. may look to make that duo a trio as the company's CEO is traveling to Japan this week to discuss joining forces with KKR and INCJ. Toshiba has not made a final decision, the report said, though it would prefer to reach an agreement now in order to avoid a drawn out auction process. Rumors surrounding the expected sale of the Toshiba business date back to February, and the list of supposed suitors include Apple Inc., Foxconn Technology Group and Broadcom Ltd....
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