Home > News content

Toshiba and Western Digital reached a settlement Western Digital will withdraw and participate in investment

via:CnBeta     time:2017/12/13 0:01:31     readed:439

Western Digital has agreed to withdraw the lawsuit filed in the Court of International Arbitration that has stopped the sale. Toshiba is allowing western counties to participate in additional investments in Yokkaichi City, Mie Prefecture. Negotiations were also scheduled for details such as setting a few restrictions for SK Hynix, a Korean semiconductor giant involved in the acquisition of Toshiba Memory, to prevent any influence over collaboration. The new plant under construction in Iwate Prefecture will also be co-invested by both parties.

Toshiba announced on the 5th that a total of about 600 billion yen (about 35 billion yuan) of third-party directional replenishment has been completed, which paves the way for it to get rid of insolvent to maintain the listing. The reasons for the rush to sell Toshiba memory after the capital increase ceased to exist, which put Toshiba in the upper hand in negotiations with Western Digital. Originally affected by the review of antitrust laws, Toshiba may be de-listed if it is unable to sell Toshiba memory by the end of March next year.

Toshiba pressured Western Digital to lift additional investment in the sixth plant under construction in Yokkaichi, forcing Western Digital to lift the lawsuit. If West does not participate in the investment, according to the contract will not be able to sell the most advanced flash memory. Taking into account the negative impact of this incident on the business, Western Digital had to choose to close the contract in the same conditions.

Western Digital, a maker of hard disk drives for recording computer data, bought SanDisk, a company that had worked with Toshiba last year. Taking advantage of Toshiba due to the huge loss of nuclear power business in the United States into crisis, West Digital in order to Toshiba storage under its possession, Toshiba sued the court to block the sale negotiations. Toshiba in September this year, Toshiba Storage decided to sell to the United States investment fund Bain Capital led the "Japan-US-Korea Commonwealth." (Finish)

China IT News APP

Download China IT News APP

Please rate this news

The average score will be displayed after you score.

Post comment

Do not see clearly? Click for a new code.

User comments