Sunday, April 22, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
GSMA Delays eSIM Technology as U.S. DoJ of U.S. Probes Coordination With AT&T and Verizon
Apple to Replace Some MacBook Pro Laptop Batteries
ZTE's Nubia Red Gaming Phone Released
LG Display's OLED Smartphone Screens Still Not Ready For Apple
Nintendo Labo Kits Now Available
June's VLSI Symposium Focuses on Next Generation Transistor Technology and MRAM
Samsung Not Interested in Nokia's Health Unit
ZTE Says Company's Survival at Risk
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

Wednesday, September 13, 2017
Toshiba Signs Memorandum to Accelerate Memory Chip Sale Talks With Bain-Sk Hynix Group


Toshiba said on Wednesday it has signed a memorandum of understanding (MOU) with Bain Capital Private Equity LP, the lead member of a consortium currently bidding to acquire Toshiba Memory Corporation (TMC), memorializing the parties' intent to negotiate a definitive agreement for the sale of TMC by the end of this month.

Toshiba has been in continuing negotiations with three consortia of potential purchasers of TMC: a consortium that includes the Innovation Network Corporation of Japan, Bain and Development Bank of Japan; a consortium that includes Western Digital; and a consortium that includes Hon Hai.

In the course of these negotiations Bain has come forward with a new proposal, Toshiba said. Toshiba's Board of Directors has determined to continue negotiations with the Bain-led consortium on the basis of this new proposal, and the company will work to expedite the conclusion of a stock purchase agreement by the end of September.

Toshiba added that the memorandum does not exclude talks with other bidders.

Western Digital said in a statement on Wednesday it remains confident it can protect its interests in its memory chip joint venture with Toshiba:

"We are disappointed that Toshiba would take this action despite Western Digital's tireless efforts to reach a resolution that is in the best interests of all stakeholders. Throughout our ongoing dialogue with Toshiba, we have been flexible, constructive and have submitted numerous proposals to specifically address Toshiba's stated concerns. Our goal has been - and remains - to reach a mutually beneficial outcome that satisfies the needs of Toshiba and its stakeholders, and most importantly, ensures the longevity and continued success of the JVs."

"Furthermore, it is surprising that Toshiba would continue to pursue a transaction with a consortium led by Korea-based SK Hynix Inc. and Bain Capital Japan without SanDisk's consent, as the language in the relevant JV agreements is unambiguous, and multiple courts have ruled in favor of protecting SanDisk's contractual rights. We remain confident in our ability to protect our JV interests and consent rights."

Western Digital has filed arbitration requests on May 14, 2017, and July 5, 2017. WD says that both legal actions continue to move forward in the ICC International Court of Arbitration.



Previous
Next
Privacy Enhancements Coming to the Windows 10 Fall Creators Update        All News        A Comparison Between the new iPhone X, iPhone 8/Plus and iPhone 7/Plus
Privacy Enhancements Coming to the Windows 10 Fall Creators Update     General Computing News      NTSB Blames Tesla Automation in Fatal 2016 Crash

Get RSS feed Easy Print E-Mail this Message

Related News
Toshiba Releases New Surveillance, Video Streaming Laptop and Desktop Hard Drives
China Opposes SK hynix-Toshiba Deal
Toshiba Delays Memory Chip Unit Sale
Toshiba Memory to Make New Investment in Production Equipment for Fab 6 at Yokkaichi Operation
Toshiba Launches KumoScale NVM Express over Fabrics Storage Software for Cloud Infrastructures
Toshiba Adds 64-layer BiCS CD5, XD5 and HK6-DC Models to Data Center SSD Lineup
Western Digital to Inject $4.6bn in Toshiba Memory
Toshiba Completes Transfer of its TV Business to Chinese Hisense Group
Toshiba Releases 2TB Hard Disk Drive for Notebooks
Toshiba Reveals Fresh Canvio Portable Hard Drive Models
Toshiba Officially Unveils Mainstream RC100 NVMe SSD Series
Struggling Toshiba Sells Westinghouse to Brookfield

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .