WD withdraws from Toshiba sale process
- Autor:Ella Cai
- Lassen Sie auf:2017-09-06
Western Digital has offered to withdraw from the bidding for Toshiba in return for a better deal in its existing jv arrangements, reports Reuters.
The move also means, presumably, that WD will drop its legal objections to the sale to anyone else.
WD had argued that its jv deal gave it the legal right to veto any sale.
Last week WD apologised to Toshiba for all the trouble it had caused with the bid.
“I am not a litigious person by nature, personally, I have never sued anyone,” wrote WD CEO Steve Milligan in a letter to Toshiba, “I understand that the litigation and ongoing disputes have created significant ill will for some within Toshiba. This is regrettable and I am deeply sorry for the feelings this has created.”
WD’s withdrawal leaves the Foxconn and Bain/Hynix bids as the last men standing.
It is reported that Apple is involved in the Bain/Hynix bid and, with Apple’s position as Foxconn’s best customer – responsible for over 50% of Foxconn revenues – it looks as if Apple will win whichever of the two bidders is chosen.
The move also means, presumably, that WD will drop its legal objections to the sale to anyone else.
WD had argued that its jv deal gave it the legal right to veto any sale.
Last week WD apologised to Toshiba for all the trouble it had caused with the bid.
“I am not a litigious person by nature, personally, I have never sued anyone,” wrote WD CEO Steve Milligan in a letter to Toshiba, “I understand that the litigation and ongoing disputes have created significant ill will for some within Toshiba. This is regrettable and I am deeply sorry for the feelings this has created.”
WD’s withdrawal leaves the Foxconn and Bain/Hynix bids as the last men standing.
It is reported that Apple is involved in the Bain/Hynix bid and, with Apple’s position as Foxconn’s best customer – responsible for over 50% of Foxconn revenues – it looks as if Apple will win whichever of the two bidders is chosen.
