POSTER:computer news || TOSHIBA POSTPONES SALE OF BUSINESS ON RELEASE OF MEMORY TILL JULY, 28TH, AT LEAST
DATE:2017-07-17
On Saturday, business publications Reuters and Bloomberg reported that the court of American jurisdiction, in which Western Digital Corporation filed a lawsuit to prohibit the sale of Toshiba Memory assets, recommended that the parties to the conflict find a common language until July 28 this year. WDC took this decision as a victory, as it had additional time, and representatives of Toshiba tried to express doubt that the court of the American jurisdiction has grounds to influence the behavior of the company that is preparing the deal, which is being conducted "mainly in Japan."
Recall that SanDisk and Toshiba had a joint venture for the production of solid-state memory, and Western Digital is the assignee of the first of the companies, and this allows us to consider sweeps in a court of American jurisdiction. However, WDC insured, and filed a lawsuit in international arbitration. The American-Japanese consortium chosen as the preferred buyer planned to agree on the terms of the deal with Toshiba Memory this week, but now negotiations can drag on. SK Hynix recently publicly admitted that it claims to receive a shareholding of Toshiba Memory. The participation of Korean investors on such conditions is unnerving for the Japanese side, and therefore WDC's legal action may not be the only obstacle to the conclusion of a deal.
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TOSHIBA POSTPONES SALE OF BUSINESS ON RELEASE OF MEMORY TILL JULY, 28TH, AT LEAST
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