According to Reuters sources, Western Digital Corp intends to take a final effort to conclude a deal to buy Toshiba Corp. Semiconductor division, increase the supply of up to 2 trillion yen ($18 billion) or more. A source familiar with the case, said that the two companies say the deal vital for its future activities.
On his new proposal, the US chipmaker will announce on Thursday, June 15, when the Japanese conglomerate is experiencing serious financial difficulties will decide on the preferred bidder for the purchase of its units Toshiba Memory Co. The deal will be formalized in the form of purchases of debt, to avoid antitrust problems in relation to the proposed acquisition of the second-largest NAND flash memory maker, a source told Reuters on Saturday.
Toshiba has set for the sale of its semiconductor business bar in the range of 2 trillion yen. She hurries to find a buyer to cover the financing gap in his account due to the billions of dollars of losses it bankrupt “daughter» Westinghouse Electric Corp, engaged in service in the US nuclear power plants.
As reported earlier sources, Western Digital, which became part of the consortium led by the Fund, supported by the Japanese government initially offered 1.6 trillion yen per unit of Toshiba.
CEO of Western Digital Steve Milligan (Steve Milligan) at a meeting with the President of Toshiba Tsunakava Satoshi (Satoshi Tsunakawa) on Friday, according to sources, has increased the offer “very close to 2 trillion yen.” However, this proposal does not arouse the interest of Toshiba. ” Our concerns about the prospects of the transaction are preserved “, – said the representative of Toshiba.
Apparently, for the conclusion of the transaction the buyer should be ready to pay for the Toshiba semiconductor business more than 2 trillion yen.