The sale of Toshiba’s chip business is strategic & pivotal to its survival as a company. This court injunction request, was expected, and adds to the complexity surrounding the troubled company.
As per a source familiar with the situation at hand, Western Digital Corp’s request for a court injunction aimed at putting a stop to the sale of Toshiba Corp’s chip business, is expected to come by mid-July.
As per another source, although the California-based company presented its revised offer for the chip unit, which met Toshiba’s requests, it however did not receive a positive response.
Western Digital is concerned about how the Japanese government, Toshiba and other stakeholders are handling the auction’s decision-making process, added the source.
All of the sources preferred the cover of anonymity due to sensitivity of the negotiations.
Toshiba declined to comment.