Re: Try a new approach
Very delicately put. I would characterise more forcefully. WDC has a forked decision to make: either it buys Toshiba cheap - because it paid too much for SanDisk - thereby becoming a serious full scale player in the flash market, or it is sold to someone else. If that happens, that they scale up instead - and WDC whithers on SanDisk's diminishing niche flash and its own spinning rust businesses.
And Toshiba don't want to sell to "anyone", as this includes Chinese or allied companies and Toshiba (or their government) don't want to transfer technology in that direction. Nobody "suitable" seems to have the money that Toshiba want. And notwithstanding all this, don't under estimate the fact that WDC think that they can get the flash business on the cheap - especially given the current political climate in the US.
I suspect Toshiba would have sold if WDC had made a sensible offer. Now it could be "not WDC at any price".