Western Digital is ready to abandon attempts to purchase semiconductor manufacturing Toshiba
Reuters claims that the company Western Digital is ready to refuse from participation in the attempts to purchase semiconductor manufacturing to Toshiba, if you can strengthen the positions in joint ventures with Toshiba.
This move will allow Toshiba to make the sale after a delay of several months caused by opposition from Western Digital.
A consortium of Western Digital, KKR & Co, the Innovation Network of Japan and Development Bank of Japan earlier proposed by Toshiba about 17.4 billion dollars. However, elaboration of the agreement have stalled because Toshiba’s fear that the participation of Western Digital delay the study of antitrust regulators.
Toshiba and Western Digital, are partners in three joint ventures that manufacture flash memory, are the second and third place in the world in terms of production, second only to Samsung Electronics.
To help Toshiba to make a deal, Western Digital ready to exit the consortium. In exchange, Western Digital expects to consolidate its position in the JV. In particular, to obtain the consent of Toshiba on the joint financing of a new production line.
Offer Western Digital will be discussed at today’s meeting of the Board of Directors of Motorola.