Toshiba and WD execs sheathe blades, start talking over memory biz
It's make-up time but nobody's kissing yet
Top Western Digital and Toshiba execs are talking after brandishing legal daggers over who can do what in Toshiba's memory business sale.
The Nikkei Asian Review reports that WDC CEO Stephen Milligan and Toshiba president Satoshi Tsunakawa have entered negotiations at Toshiba's HQ. It's not kiss-and-make-up time yet, but they are speaking to each other.
Milligan also discussed the situation with an official at Japan's Ministry of Economy, Trade and Industry.
Toshiba is reportedly considering pushing the second-round bidding deadline back from 19 May.
There are five candidate buyers:
- Kohlberg Kravis Roberts (KKR) in partnership with the public-private Innovation Network Corporation of Japan
- SK Hynix
- Hon Hai Precision Industry (Foxcon)
- Western Digital
The Nikkei reports speculation that Toshiba could be making time for an all-Japanese bid to be put together, and that time could be needed to resolve the Toshiba-WDC dispute.
But it's a possibility that, if KKR wins the bid, it could subsequently sell off some or all of the stake to someone else. ®