Western Digital Sues to Halt Toshiba Sale

Release time:2017-06-16
author:
source:EE Times
reading:329

Western Digital Corp. (WD) has asked a California court to halt the sale of Toshiba Corp.'s semiconductor business pending the results of arbitration between the two companies on the matter.

WD said Wednesday (June 14) that several of its SanDisk subsidiaries are seeking preliminary injunctive relief in Superior Court in San Francisco, arguing that ani-transfer provisions in the agreements between the two companies require that Toshiba obtain WD's consent prior to any transfer of the memory chip joint ventures between the two companies.

Toshiba and Sandisk have been partners in NAND flash technology development and manufacturing since the late 1990s. WD acquired Sandisk for $19 billion last year.

The two firms have been trading barbs since Toshiba announced plans to sell most or all of its semiconductor business in order to offset losses by its U.S. nuclear power business. WD would like to buy Toshiba's semiconductor business and reportedly increased its offer for it to $18 billion or more in recent days.

Stephen D. Milligan
Stephen D. Milligan

WD last month requested arbitration with Toshiba at the International Chamber of Commerce seeking to unwind the transfer of Toshiba's chip business to a spin off for the the purpose of its sale. WD said Wednesday it is proceeding with the arbitration.

"Toshiba Corporation's attempts to circumvent our contractual rights have left us with no choice but to take this action," said Steve Milligan, WD's CEO, in a press statement. Milligan added that "left unchecked, Toshiba would pursue a course that clearly violates these rights."

Meanwhile, Toshiba plans to choose a winning bid this month and finalize the sale by June 28. In addition to WD, other suitors still considered to be in the running include a coalition led by the government-backed Innovation Network Corp of Japan (INCJ), a joint bid by Foxconn and partners including Apple and Dell, and a bid by Broadcom Corp. and U.S. equity firm Silver Lake Partners. The Broadcom-Silver Lake partnership has bid nearly $20 billion, according to reports.

Online messageinquiry

reading
  • Week of hot material
  • Material in short supply seckilling
model brand Quote
TPS61021ADSGR Texas Instruments
TXB0108PWR Texas Instruments
TPIC6C595DR Texas Instruments
PCA9306DCUR Texas Instruments
CD74HC4051QPWRQ1 Texas Instruments
TL431ACLPR Texas Instruments
model brand To snap up
TPS61021ADSGR Texas Instruments
TPS5430DDAR Texas Instruments
TPS63050YFFR Texas Instruments
TPS61256YFFR Texas Instruments
TXS0104EPWR Texas Instruments
ULQ2003AQDRQ1 Texas Instruments
Hot labels
ROHM
IC
Averlogic
Intel
Samsung
IoT
AI
Sensor
Chip
Information leaderboard
  • Week of ranking
  • Month ranking
About us

Qr code of ameya360 official account

Identify TWO-DIMENSIONAL code, you can pay attention to

AMEYA360 mall (www.ameya360.com) was launched in 2011. Now there are more than 3,500 high-quality suppliers, including 6 million product model data, and more than 1 million component stocks for purchase. Products cover MCU+ memory + power chip +IGBT+MOS tube + op amp + RF Bluetooth + sensor + resistor capacitance inductor + connector and other fields. main business of platform covers spot sales of electronic components, BOM distribution and product supporting materials, providing one-stop purchasing and sales services for our customers.