Seagate pledges not to buy stake in Toshiba chip unit for 10 years: Bain document

The pledge was made as Toshiba’s chip joint venture partner Western Digital Corp (WDC.O) objected to the unit’s sale to rivals. Seagate directly competes with Western Digital in hard disk drives. Western Digital still opposes any deal without its consent … Continue reading

Bain brings in Apple for last-minute $18 billion bid for Toshiba chip unit

A consortium led by Bain Capital has made a revised last-ditch offer for Toshiba Corp’s chip unit worth about $18 billion, bringing in Apple Inc to help bolster its bid, sources with direct knowledge of the matter said. The new … Continue reading

Western Digital group to offer $17.4 billion for Toshiba chip unit

Western Digital is set to offer 150 billion yen through convertible bonds and will not seek voting rights in the business, the sources who were familiar with the deal said. The consortium also includes U.S. private equity firm KKR & … Continue reading

How Toshiba’s sale of $18 billion chip unit stalled, and what’s next

In June, Toshiba picked a consortium including Japanese government-backed funds, private equity firm Bain Capital and South Korean chip maker SK Hynix as a preferred bidder. But Western Digital, which jointly invests in Toshiba’s main chip plant and is a … Continue reading

Toshiba says it again is blocking Western Digital access to chip JV

Toshiba allowed Western Digital partial access to shared data servers after the Superior Court of California granted a temporary restraining order earlier this month. But the Japanese company said it resumed blocking access after its petition for an appeal was … Continue reading

Toshiba under pressure to consider ‘Plan B’ as chip sale falters: sources | Reuters

Those people say Toshiba’s leadership is sticking to Plan A: selling the world’s second-largest memory chip maker to a Japanese government-backed group that also includes Bain Capital. But the clock is ticking for Toshiba, which was still recovering from a … Continue reading

Western Digital says Toshiba’s actions in chip spat harm customers | Reuters

The two have been feuding bitterly over the $18 billion sale, particularly after Toshiba chose a different consortium as it is preferred bidder. Western Digital, which jointly runs Toshiba’s main semiconductor plant, has sought a U.S. court injunction to prevent … Continue reading

Western Digital seeks court injunction to block sale of Toshiba chip unit | Reuters

The escalation in the spat between Western Digital, which jointly operates Toshiba’s main chip plant, and its business partner follows tense last-minute jockeying by suitors for the world’s second-biggest producer of NAND semiconductors. According to a person familiar with the … Continue reading

Bain, KKR, Broadcom among suitors lining up for Toshiba’s chips business | Reuters

Broadcom, which has teamed up with private equity firm Silver Lake, and Bain which has partnered with South Korean chipmaker SK Hynix will participate in the second-round, the people said. It was not clear if KKR and its partners would … Continue reading

Toshiba: Too big to fail? – Apr. 14, 2017

Toshiba is “too big” for Japan to allow it to go under, said Kazunori Ito, an analyst with research firm Ibbotson Associates Japan. One risk is that banks will stop supporting the struggling conglomerate. But the lenders so far appear … Continue reading