Western Digital claims that the intention of Toshiba to sell semiconductor business violates their joint contract
The last time we wrote about Toshiba’s intention to sell its semiconductor business or part of it. And it seemed that the only question is, who and how many will buy these assets.
However, it appeared that all not so is simple. According to the source, Western Digital, Toshiba warned that the latter’s intention to sell the semiconductor business is violating their joint contract.
Western Digital claims that the separation is «a very serious breach of joint venture agreement» and the company does not intend to sit idly by while Toshiba breaks the contract. We will remind, last year the company opened jointly a New semiconductor factory Fab 2 in Yokkaichi.
Additionally, WD said that the auction process is not in the interests of shareholders of Toshiba and the company insists on exclusive negotiations. In addition, Western Digital believes proposed by some willing amounts in the 18 and 27 billion dollars too high. Finally, the company noted that each of those who declared interest in acquiring the semiconductor business of Toshiba, is problematic for Japan contender. We will remind, early data pointed to the fact that she is Western Digital interested in buying the assets of a Japanese partner.