Western Digital's fresh offer fails to sway Toshiba
Japanese conglomerate unconvinced by proposal to buy memory unit
TOKYO -- Western Digital, which has fought to block Toshiba from selling its memory chip business to a third party, has presented a new proposal to the Japanese conglomerate in hopes of winning the bid for the Toshiba Memory unit itself. But the discussion generated little progress on the matter.
Steve Milligan, the American company's CEO, met Friday with Toshiba President Satoshi Tsunakawa and delivered a fresh plan to join the collaboration led by the Innovation Network Corp. of Japan to buy the memory chip business, along with other partners such as the Development Bank of Japan.
But Toshiba apparently could not resolve its skepticism about the plan's feasibility, and likely believes that the price and other terms have yet to be solidified by the partners.
The two sides seemingly were unable to find a solution to the potentially lengthy legal battle initiated by Western Digital's May 15 filing with the International Chamber of Commerce's International Court of Arbitration to block Toshiba's business sale, a move that has drawn some countermeasures from the Japanese conglomerate.