Western Digital shares were up in premarket trading August 24 on reports that it and a consortium of other buyers could offer ¥1.9 trillion (US$17.4 billion) for Toshiba’s.
The company looks set to offer ¥150 billion (US$1.37 billion) in convertible bonds and will not seek voting rights in the business, Reuters reported citing anonymous sources.
The consortium also includes US private equity firm KKR & Co KKR.N and state-backed Innovation Network of Japan and Development Bank of Japan, all of which will offer ¥300 billion (US$2.7 billion) each for the chip business, the sources said.
Toshiba and its joint venture partner Western Digital have begun talking about a possible deal, the Nikkei Asian Review reported on Wednesday, after months feuding and litigation between the partners.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI