Now what today? I can't keep up with the news and gyrations. STX also getting hit. Is it an industry thing.
Just make up your mind.
All quotes have been presented by your friend and mine "Anonymous" who has fishtailed this story all over the charts for the past three months. One unsubstantiated story is worth $4 on the charts.
I am not in the computer business, so I want to ask you a question. It seems like a recall reading somewhere that Seagate had a severe problem for making defective drives that failed very quickly and is being sued for a billion + dollars, and S.K. Hynix from what I read is not the best or most advanced manufacturer plus with what's going on in North Korea, why would you bring in another manufacturer from Korea while you already have Samsung, the biggest in the world sitting right next to an unstable psychopath? It doesn't take much imagination to see North Korea in the not too distant future telling S.K. Hynix, if you know what's good for you, we want you to provide us with those IP protocols, and when we pressure South Korea with workable nuclear weapons, we are going to remember our friends. Does Tim Cook at Apple think about these scenarios? Hell, if I were he, rather than tell Western Digital I won't buy from you ever if you get the Toshiba deal, he should have told them, I am only going to deal with you, will put up 3 to 5 billion cash, but I want a long term contract to buy the product at a guaranteed price? This seems pretty elementary to me. Milligan seems like a very high integrity, competent kind of guy. What am I missing?
.... Ohhhh magic 8 ball.... please tell me what is going to happen.....
What just happened? Price jump from high 86 to 90 in a few minutes?
Is it over.???.....WDC has not responded after Tosh rejection.
Toshiba Is Said to Aim for Chip Deal With Bain by Sept. 20
Toshiba Corp. is aiming to finalize a deal to sell its memory chips business to a group led by Bain Capital at a Sept. 20 board meeting, despite opposition from partner Western Digital Corp., according to people familiar with the matter.
How can the after hours not have had any trading? I have never seen that. It's like the SEC froze the stock?
*TOSHIBA IS SAID TO FAVOR WESTERN DIGITAL GROUP BID": REUTERS
Deceitful public statements made by Toshiba
Besides lying to their own shareholders multiple times and costing them trillions in losses (yen), Toshiba also lies to the press. Early on in this saga, I read this:
"Toshiba argues neither party can block a change of control by the other partner. It says Western Digital itself acquired the joint venture interest when it bought current unit SanDisk, and never sought or received Toshiba’s approval."
Somewhere in the back of my mind, that statement did not jive with something I had read regarding the Sandisk merger. I think I found it.
In the DEFM14A Filing Date 2016-02-05 (found on SEC Edgar site under Sandisk), they presented the "Background of the Merger." For those that may not remember, there were multiple parties interested in acquiring Sandisk. Including Toshiba, which by association to the JV agreements, is identified as Company D in that background. Among the other tidbits in that filing, there is this section:
"Later that same day, on October 19, 2015, Messrs. Mehrotra, Bhatia and Milligan had a meeting with representatives of Company D, including the Chief Executive Officer of Company D, continuing the parties’ discussion of the proposed SanDisk-Western Digital transaction as it relates to Company D. At the meeting, Company D’s representatives indicated that they would be supportive of the proposed SanDisk-Western Digital transaction."
Toshiba was fully aware of the merger and was "supportive."
Stanley. Stanley. Stanley. Anybody seen Stanley?
We will know when we wake up tomorrow what really happens
WDC says they would not agree to limits on their JV agreement. Perfect as IMO Toshiba just wanted that in the Buy negotiation to then get a Win on the litigation side using that argument Great news IMO for WDC by not giving on this point.
I can't see WDC going down without a fight. Wait for the official announcement.
I think the clincher was APPL throwing it's gorilla weight around that helped Toshiba decide.
hope everyone is doing well. been gone for a while but glad to come back and see that the #$%$ show continues. Toshiba is a comedy of errors! GL to everyone!
the solution should be guided by common sense. WDC agrees to buy toshiba s shares at a price taking into account the loss of royalty revenues from the JV. Then, to appease anti monopoly legislation, the agreement should prescribe a spin off with a certain time frame and some sharing of profit with Toshiba from the division IPO or private placement. In the meantime, WDC is still only worth $27Bn for annual sales of $20Bn, meaning that their rounded 50% stake in toshiba is only valued at $7Bn, while it should be $10Bn.
According to the negotiations on the sale of Toshiba Memory subsidiary Toshiba 's advanced business rebuilding Toshiba, collaborating side Western citizen Western Digital (WD) led the campaign showed a big concession proposal on 19th . Toshiba is planning to decide the sale destination on 20th. We have signed a memorandum of understanding to accelerate talks with the "Japan-US-South Korea Union" led by US fund Bain Capital, but we will carefully investigate which choice to choose, given WD's concession.
This article seems to present a fairly decent overview of the drama that we've witnessed over the past few months. At some point during the article, the SA site may ask you to register or login but it's free so . . . Anyway, the story gives promise of a happy conclusion.
Toshiba and Western Digital will do a deal after 'tactica...
Toshiba's negotiating moves over its semiconductor unit are "tactical," but it will end up with Western Digital, says Mehdi Hosseini, senior analyst and senior VP of semiconductors, Susquehanna Financial Group.
glad I sold $90,000 of shares on friday. for $88.90 each, and even though I panicked a few days before and sold my other $75,000 of shares for $84ish, I will buy wdc back at $75 when it crashes Monday after the latest negative news that toshiba is causing