Transfer of Fujistu HDD to Toshiba Once More Reported
Will now take place on September 1, 2009
This is a Press Release edited by StorageNewsletter.com on July 30, 2009 at 3:46 pmFujitsu Limited and Toshiba Corporation announced that the target date for Fujitsu’s transfer of shares of Toshiba Storage Device Corporation to Toshiba has been extended from August 1, 2009 to September 1, 2009.
Fujitsu and Toshiba announced on June 18, 2009, that Fujitsu’s hard disk drive business and functions will be transferred to a new company, TSDC. Under a contract between the companies, Fujitsu was to have transferred 80.1% of the shares of TSDC to Toshiba by the target date of August 1, 2009.
As part of the transfer process, Fujitsu and Toshiba are taking necessary procedures in various countries in accordance with local competition laws. In a certain country, however, the governmental review process has not been completed, and therefore the companies have decided to extend the target transfer date.
Comments
From July 1, 2009 to August 1, 2009, now from August 1, 2009 to
September 1, 2009, that's the second times the transfer of the
Fujitsu HDD business to Toshiba is reported. The two firms signed a
memorandum of understanding for this deal on February 17, 2009.
The reason given by the two companies for the delay: governmental
review process has not been completed in a country. Which one? It's
probably Japan where these two firms are the only manufacturers of
HDDs. We don't see any other country trying to stop this merger.
Real also:
Transfer of Fujitsu HDD to Toshiba Delayed
Until August 1, 2009
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