viewWestern Digital Corp

Western Digital’s Toshiba talk back on agenda following after stock drop

A new US$18bn offer is on the table for Toshiba's prized flash memory business, according to reports.

Western Digital memory product
WDC dropped 2.22% since Monday’s close, trading at US$90.60.

Data storage group’s Western Digital Corp (NASDAQ:WDC) and Seagate Technology Plc (NASDAQ:STX) have been on the back-foot since Monday’s regular trading closed after the former changed guidance for the fourth quarter, but takeover talk on Tuesday promised a quick change of subject.

Western Digital has reportedly submitted a new bid for Toshiba’s flash memory business, with the revised offer pitched at US$18bn. It is the latest twist in an ongoing spat between the two groups which jointly operate a memory manufacturing plant in Japan.

On Monday, after market hours, Western Digital upgraded earnings expectations for the fourth quarter, with the company saying flash memory and hard drive sales were up, but, revenue guidance remains unchanged and gross margin is higher.

WDC dropped 2.22% since Monday’s close, trading at US$90.60, while Seagate slumped 1.75% to US$41.65.

Quick facts: Western Digital Corp

Price: 51.21 USD

Market: NYSE
Market Cap: $15.58 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


CO2 GRO sees 20% higher pepper yields though 10 weeks of Hidroexpo Feasibility

CO2 GRO (CVE: GROW- OTCQB: BLONF) Vice President of Sales and Strategic Alliances Aaron Archibald joined Steve Darling from Proactive to bring details the company has seen very good results from their CO2 Delivery Solution commercial feasibility on greenhouse-grown peppers with Hidroexpo in...

2 days, 9 hours ago

2 min read