Hitachi: Transfer Of HDD Operations To Western Digital To Be Delayed
05 December 2011 - 1:34AM
Dow Jones News
Hitachi Ltd. (6501.TO) said Monday that the transfer of its hard
disk drive business to Western Digital Corp. (WDC) will be delayed
as the U.S. company is still working on acquiring regulatory
approval from the European Commission and other authorities.
Hitachi said that the deal, which had been expected to be
completed in the October-December quarter, is now expected to be
finalized by March 2012.
In March, Western Digital agreed to buy Hitachi's disk-drive
business for about $4.3 billion in cash and stock, in a deal that
will boost Western Digital's share of global disk-drive shipments
to nearly 50%.
-Tokyo Bureau, Dow Jones Newswires; +81-3-6269-2770