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Toshiba misses own deadline for chip unit deal, continues talks with three suitors

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TOKYO, Aug 31 (Reuters) - Japan's embattled Toshiba Corp said it would continue negotiating with three bidding groups for its prized memory chip unit, failing to seal a deal by its self-imposed deadline of Thursday.

Toshiba's board met earlier in the day to review a $17 billion offer by a consortium led by Western Digital, as well as bids from groups led by Bain Capital and by Hon Hai Precision Industry.

"Toshiba intends to continue negotiations with possible bidders to reach definitive agreement which meets Toshiba's objectives at the earliest date," it said in a statement. (Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)