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Home > News > Industry News > Bankers push Tosh towards WD d.....

Bankers push Tosh towards WD deal

  • Author:Ella Cai
  • Release on:2017-08-29
Western Digital CEO Stephen Milligan is in Tokyo trying to get a deal with Toshiba finalised by Thursday – the date for Toshiba’s next board meeting.

It is reported that Toshiba’s bankers have pressured Toshiba to get an early resolution to its marathon sale saga.

WD is joined  in its bid by KKR, and the two Japanese government bail-out funds INCJ and DBJ.

WD  appears to have the legal capability to scupper any deal Toshiba might make with another company because of WD’s existing jv fab operations with Toshiba.

It is said that WD has made two concessions – that it won’t take management control of Toshiba’s memory unit after the deal, and it won’t take more than a 30% equity stake in Toshiba.