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Toshiba Sells PC Business to Sharp

Toshiba has agreed to sell Toshiba Client Solutions, its personal PC business, to Sharp in a deal valued at about 4 billion yen ($36 million). The move signals a return to the PC business by Sharp, which closed down its PC unit in 2010 due to poor earnings and intense competition. Under the terms of the deal, Toshiba said will transfer 80.1% of TCS to Sharp. After the transfer is closed, TCS will be deconsolidated, the company said. In conjunction with the transaction announcement, Sharp said it would issue $1.8 billion in new shares and use...

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