Toshiba, Western Digital entering final talks on chip unit sale [Seeking Alpha]
Western Digital Corporation (WDC)
Last western digital corporation earnings: 4/30 04:01 pm
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Source: Seeking Alpha
Toshiba ( OTCPK:TOSBF , OTCPK:TOSYY ) and Western Digital (NYSE: WDC ) have entered talks to finalize the sale of Toshiba’s chip unit, which creditors want to happen this month to allow for regulatory approval time before the company’s potential Tokyo delisting in March. Nikkei reports that a consortium containing Western Digital, KKR, Innovation Network Corp. of Japan, and the state-backed Development Bank of Japan has offered about $17.3B for the chip unit. Western Digital would contribute “hundreds of billions of yen” in the funding with no initial voting rights with the eventual plan to take a less than 20% stake. Western Digital is expected to complete its due diligence on the unit as early as next week. Toshiba wants to sign a deal as quickly as possible having already received its board’s blessing. Background: Western Digital claims its SanDisk acquisition last year gave it the right to approve the sale of the partne
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WDC
News
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WDC
Earnings
- 4/25/24 - Beat
WDC
Sec Filings
- 4/30/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/9/24 - Form 4
- WDC's page on the SEC website