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Toshiba board meets tomorrow to consider Western Digital, Foxconn bids

Published 07/25/2017, 11:04 AM
© Reuters.  Toshiba board meets tomorrow to consider Western Digital, Foxconn bids
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  • Toshiba’s (OTCPK:TOSBF, OTCPK:TOSYY) board will meet tomorrow to consider the chip unit bids from Western Digital (NYSE:WDC) and Foxconn, according to Reuters.
  • Western Digital seeks to block Toshiba from selling to the previously selected, Japan-backed consortium.
  • The consortium doesn’t want the sale to go through until the litigation ends. Participation of SK Hynix in the consortium and the South Korean chipmaker’s request for equity have further soured the deal.
  • Western Digital and Toshiba are due back in court Friday regarding Western Digital’s request for a sale injunction.
  • Previously: Toshiba issues statement regarding postponed injunction decision (July 17)
  • Now read: Best Stock Market Advice: Buy Low, Sell High


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