Tuesday, September 26, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
LG Joins the Xfinity TV Partner Program
Deloitte Email Platform and Client Data Hacked
macOS High Sierra Now Available for Download
Intel's New Loihi Self-Learning Chip Promises to Accelerate Artificial Intelligence
Microsoft Announces First Windows S Devices, Brings cloud, AI and Mixed Reality to Businesses
Fitbit's Ionic Smartwatch Goes on Sale on October 1st
Levi's Commuter Trucker Jacket Goes on Sale
Samsung Foundry Tapes Out eMRAM Test Chip Based on 28nm FD-SOI Process
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Toshiba...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, July 11, 2017
Toshiba in Talks with Western Digital, Foxconn Over Memory Unit Sale


Toshiba has been reportedly in talks with Western Digital and Foxconn, as well as with an already preferred bidder, as it seeks to re-ignite interest for the $18 billion sale of its chip business.

Toshiba confirmed it was in talks with suitors, but did not name them, noting it had been unable to reach an agreement by a self-imposed June 28 deadline with its preferred bidder - a group that includes state-backed fund Innovation Network Corp of Japan (INCJ), the Development Bank of Japan (DBJ), U.S. private equity firm Bain Capital and South Korean chipmaker SK Hynix Inc.

Representatives for Western Digital and Foxconndeclined to comment.

Talks with the preferred consortium have stalled over what sources say are proposals by SK Hynix that it helps fund a deal through convertible bonds - a step that could eventually give it an equity interest in the world's second-largest maker of NAND flash memory chips.

Toshiba needs to sell its chip business to plug a hole in its balance sheet by the fiscal year-end in March, to avoid an automatic delisting of its shares from Tokyo's stock market.

The company has been reluctant to consider a deal with Western Digital, its memory chip business partner.

Last month, Western Digital sought a U.S. court injunction to prevent Toshiba selling the chip unit without its consent. A hearing on that request is scheduled for Friday. It's possible Western may reach a resolution that would give it a part in a transaction and remove the need for the injunctions before that date.

According to court documents, Western Digital said it matched rival bidders' offers to buy the flash memory unit - though the actual dollar figure of the bid was redacted.



Previous
Next
Intel Skylake Processors Counter AMD Epyc        All News        AMD Unveils AMD4U for Gamers and Content Creators with Square Enix and Adobe
Ads Heading to Facebook Messenger Globally     General Computing News      Microsoft to Bring Fast Internet to Rural Areas in the U.S.

Get RSS feed Easy Print E-Mail this Message

Related News
Toshiba Formalizes Chips Sale to Bain Consortium, WD Steps up Legal Action
Toshiba Has Chosen Japan-U.S.-South Korea Group For its Chip Unit
Apple Could be Behind Toshiba's MoU With Bain Capital's Consortium
Toshiba Signs Memorandum to Accelerate Memory Chip Sale Talks With Bain-Sk Hynix Group
Western Digital Ships 12TB WD Gold Hard Drives
Toshiba in Ongoing Discussions for Chip Business Sale
Toshiba MQ04 Hard Disk Drive Packs 1TB of Storage in a 7mm Design
Bain, SK Hynix Up Bid for Toshiba Chip Unit: sources
Foxconn, Apple, and SoftBank Pursue Acquisition of Toshiba Memory Unit
Western Digital Could Quit Bid for Toshiba Chip Unit, for Better JV Terms
Western Digital Releases 400GB microSD Card
New Western Digital My Cloud Home Makes It Easy To Save All Content In One Place

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .