According to Reuters, shares of Toshiba (TOSHIBA), a Japanese semiconductor manufacturer actively negotiating the sale of its semiconductor business, rose 22% on the Tokyo Stock Exchange on the 18th, the biggest increase in five months. Moreover, it ended up at 275.8 yen per share, up 19%. Sources pointed out that the main reason for the sharp rise in Toshiba's share price was the opportunity to finalize the plan for the sale of shares in the semiconductor business within this week.
The report pointed out that Toshiba was eager to sell its semiconductor business shares in order to fill the losses caused by the bankruptcy of its subsidiary Westinghouse Electric due to its poor operation of nuclear energy business. However, Toshiba's selection of the United States-Japan-Korea Alliance, which is composed of Bain Capital, an American private equity firm, INCJ, and SK Hailishi, a Korean semiconductor manufacturer, as the priority bargaining target, has attracted Western Data from its partners. Digital's objection. Previously, Western Data had been arbitrated by the International Chamber of Commerce in U.S. courts, demanding that Toshiba stop selling its semiconductor business.
According to the original plan, the Arbitration Commission should have announced the award on July 14. However, the judge did not make the ruling on schedule, but delayed the final ruling by two weeks until July 28. According to the latest Reuters report, Steve Milligan, CEO of Western Data, who has been selected as a senior official by Japan's Ministry of Economics and Industry, is also visiting Japan. As a result, the Ministry of Economics and Industry has been coordinating the hope that Toshiba Semiconductor Business Ownership will be acquired by the United States, Japan and South Korea Alliance. Therefore, Steve Milligan, who is visiting Japan at the moment, may reach an agreement with the Japanese government and Toshiba to make the equity sale plan go smoothly. However, Western Data is reluctant to comment on Steve Milligan's Japanese bank intentions.
In addition, Toshiba has made new progress in its negotiations with the US-Japan-Korea Alliance. That is to say, the attitude of South Korean SK Hynix, who participated in the "U.S. -Japan-Korea Alliance" bidding for Toshiba Semiconductor Equity, has changed. SK Hynix will no longer require voting rights for Toshiba chip business. This is another obstacle to Toshiba's final agreement on the sale of its semiconductor stake. The chairman of INCJ, Shiga Junzhi, also said on the 14th that he hoped that the final agreement could be reached within this week.
