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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

SNDK 215.03

-2.5%

Nov 26 3:59 PM EST

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From: bigchad	12/11/2017 8:30:29 PM
	1 Recommendation Recommended By Mesaverde Read Replies (1) of 4833

Looks like all this will come to and end soon. As some have predicted seekingalpha.com I doubt the sale goes through at all now that you have hedge funds involved with the primary objective of making money and not petty arguments. David Einhorn et al know the Toshiba memory assets are worth a hell of a lot more than $18 Billion (as is WDC more than $80/share) and they will rather keep the money for themselves than give it to Bain. You have to wonder if Toshiba didn't plan this all along. WDC can resume it's uptrend soon and $200 per share still in place for end of next year. mainichi.jp Toshiba, Western Digital effectively agree to settle chip unit dispute December 12, 2017 (Mainichi Japan) TOKYO (Kyodo) -- Toshiba Corp. and its joint venture partner Western Digital Corp. have effectively agreed to settle a dispute over the sale of the Japanese company's chip business, ending a long legal battle, sources with knowledge of the matter said Monday. Western Digital will drop its legal action aimed at blocking the sale of Toshiba Memory Corp., a decision that removes a major concern for the Japanese conglomerate to complete the deal as part of its restructuring plans. The companies are working out the final details of the agreement and will announce a deal as early as Tuesday, the sources said. The U.S. hard disk drive maker had claimed that selling Toshiba Memory to a third party without its consent would breach their contract. The cash-strapped Japanese company is seeking to raise cash through the sale of the chip unit to eliminate a negative net worth by the time its business year ends in March and avoid having its shares delisted from the Tokyo Stock Exchange. As the legal action could have delayed the sale, Toshiba had to look to another fund-raising measure. The company last week raised 600 billion yen ($5.3 billion) through a third-party allocation of new shares with 60 overseas investment funds. In September, Toshiba decided to sell Toshiba Memory shares to a Japan-U.S.-South Korean group led by U.S. fund Bain Capital. The consortium includes the state-backed Innovation Network Corp. of Japan and Development Bank of Japan, and South Korean chipmaker SK Hynix Inc.

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