Toshiba Corp said on Monday it would broaden the time of its delicate idea for chip hardware unit NuFlare Technology Inc until Jan. 16.
The augmentation of the offer, from the initially set Dec. 25, was mentioned by NuFlare to give its investors enough time for thought after Hoya Corp made a counter idea for NuFlare, Toshiba said.
Toshiba, which holds 52.4% of NuFlare, is planning to assume full responsibility for NuFlare to reallocate assets to concentrate on development.
Optical items creator Hoya has offered 12,900 yen for each NuFlare share or $1.4 billion - an uncommon spontaneous offer in Japan, besting Toshiba's idea of 11,900 yen for each offer it doesn't possess.
It needs in any event 66% of NuFlare, which means Toshiba would need to sell some portion of its stake, yet Toshiba's board on Friday chose not to acknowledge Hoya's offer, saying the chip hardware unit was center to the gathering.
NuFlare said in a different explanation on Monday that it would keep on supporting Toshiba's offered, including that it would choose how to react to Hoya's idea in the wake of measuring Toshiba's delicate offer.