A US judge did not reach a decision Friday in Western Digital’s bid to temporarily block Toshiba from selling its flash memory business in an $18 billion deal but proposed requiring Toshiba to give Western Digital two weeks’ notice before closing.
Toshiba is scrambling to sell its flash memory unit to cover losses from its nuclear reactor business.
In late June, Toshiba announced its preferred bidder was a group made up of Bain Capital, South Korean chip maker SK Hynix and Japanese-government backed banks that offered $18 billion (roughly Rs. 1,15,843 crores).
Western Digital, which is also bidding, sued Toshiba in San Francisco County Superior Court in mid-June, saying it believed a joint venture with Toshiba means Toshiba needs its consent to sell the flash business.
Western Digital’s joint venture with Toshiba helps finance equipment at Toshiba’s plants in exchange for some of their output.
A US judge did not reach a decision Friday in Western Digital’s bid to temporarily block Toshiba from selling its flash memory business in an $18 billion deal but proposed requiring Toshiba to give Western Digital two weeks’ notice before closing.
Toshiba is scrambling to sell its flash memory unit to cover losses from its nuclear reactor business.
In late June, Toshiba announced its preferred bidder was a group made up of Bain Capital, South Korean chip maker SK Hynix and Japanese-government backed banks that offered $18 billion (roughly Rs. 1,15,843 crores).
Western Digital, which is also bidding, sued Toshiba in San Francisco County Superior Court in mid-June, saying it believed a joint venture with Toshiba means Toshiba needs its consent to sell the flash business.
Western Digital’s joint venture with Toshiba helps finance equipment at Toshiba’s plants in exchange for some of their output.
Sоurсе: gadgets.ndtv.com
Top Brands
