Broadcom (BRCM) is said to be the preferred buyer to acquire Toshiba's (TOSYY) flash business, CNBC reports, citing sources.

Toshiba values its chip business at $18 billion or more and is looking to expedite the sale in order to cover billions in cost overruns at its now bankrupt U.S. nuclear business.

Toshiba is expected to announce who has won the bidding war for the chip business next week. The company's choices are said to be narrowed to Broadcom, U.S. tech fund Silver Lake, and other bid from Toshiba's chip partner Western Digital (WDC - Get Report) in partnership with a Japanese state-backed group of investors, CNBC noted.

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