Toshiba says not threatened by Hoya's sweeter bid for Toshiba's NuFlare unit www.reuters.com

TOKYO (Reuters) - Toshiba Corp (6502.T) does not feel threatened by Hoya Corp’s (7741.T) counter offer for Toshiba chip equipment unit NuFlare, saying that even if its own bid fails it does not expect Hoya to succeed.
Kurumatani said if Toshiba’s bid fails, “it will just be the current status quo,” he said.
But Kurumatani said Toshiba’s board, the majority of which are external directors, had signed off on Toshiba’s offer price for NuFlare and bumping that up would harm its own shareholders’ interests.
Toshiba’s bid, which ends Dec. 25, is part of a 200 billion yen ($1.8 billion) plan to convert NuFlare and two other listed subsidiaries into wholly owned units.
If Toshiba’s bid fails, Hoya’s offer would begin in April and is due to run for a month.