U.S. private-equity firm Silver Lake Partners and chipmaker Broadcom (AVGO) - Get Report reportedly have tendered a roughly 2 trillion yen ($17.9 billion) bid for Toshiba's memory chip operations, Nikkei Asian Review reported.

Toshiba is ready to commence the process of negotiating a sale of its memory chip unit that meets its financial requirements while addressing government security concerns.

The report indicated that other firms also have come forward with bids, and Toshiba is expected to select a winner before its general shareholder's meeting in late June.

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