Toshiba requires Western Digital Corporation to recover damages of 1 billion

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POSTER: computer news   ||    TOSHIBA REQUIRES WESTERN DIGITAL CORPORATION TO RECOVER DAMAGES OF 1 BILLION	DATE:2017-06-29
Yesterday'smeeting of Toshiba shareholders  did not end with the announcement of preliminary agreements on the sale of assets of the Japanese corporation, related to the production of solid state memory.  As explained by Reuters , the Toshiba management could not find a common language with the previously announced buyers, among which are seen the financed by the Japanese government INCJ fund and the DBJ bank, American company Bain Capital, as well as the Korean company SK Hynix appearing in the shadow of this deal.  Such a composition of buyers was formed under the pressure of the profile Japanese ministry, but the members of the board of Toshiba against participation in the transaction SK Hynix.  It is interesting that a similar position is followed by Western Digital, whose candidacy was rejected by Toshiba management with reference to less favorable financial conditions and the need for approval. The American partner Toshiba claims that it offers an equal competitive variant of about $ 18 billion, and is ready to refinance the debts of the Japanese corporation.  The new application of WDC suggests that at first KKR & Co will be involved in the transaction, and in the future the partners will be invited by the same INCJ and DBJ representing the interests of the Japanese government.  Toshiba has now filed a lawsuit with the Tokyo District Court with WDC claiming $ 1 billion in moral damages. In addition, Japanese partners block WDC staff from accessing the Yokkaichi facility, which is managed jointly.  This can prevent the development of new types of NAND-type memory, which should be released here.  WDC is awaiting a hearing on a counterclaim to Toshiba on July fourteenth in a court of American jurisdiction.   Related Products :

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