Western Digital CFO: Would consider bid with INCJ, DBJ for Toshiba chip unit
Western Digital Corp, the U. S. partner of Toshiba Corp in a semiconductor venture, is in talks with state-backed fund Innovation Network Corp of Japan (INCJ) and the Development Bank of Japan and would consider a joint bid with them for the chip business, a senior official said on Thursday.
Western Digital Corp, the U.S. partner of Toshiba Corp in a semiconductor venture, is in talks with state-backed fund Innovation Network Corp of Japan (INCJ) and the Development Bank of Japan and would consider a joint bid with them for the chip business, a senior official said on Thursday.
Western Digital, which operates a chip plant with financially strapped Toshiba in Japan, has discussed antitrust issues with Toshiba and both agreed that they shouldn't be an obstacle to a Western Digital bid, Mark Long, chief financial officer and chief strategy officer, told Reuters in an interview.
Toshiba, which expects to book a net loss of $9 billion for the business year that began this month, is selling most or all of the prized chip unit to fill a vast balance sheet hole left its U.S. nuclear unit Westinghouse Electric Co, which filed for U.S. bankruptcy protection from creditors last month.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)