So all those ‘Toshiba going in the hands of WD’ news come to a logical end now! Just recently, the shareholders of Toshiba had a very important meeting and the higher officials approved the Share Purchase Agreement (SPA).
The Deal History
The smooth looking deal was not so smooth actually. We’ve seen a long period of heartbreaking news for the Toshiba fans. The deal previously entered into with K.K. Pangea(Pangea). It was a special purpose acquisition company which was formed by the consortium consisting of:
- Bain Capital Private Equity
- LP (including affiliates of Bain)
The things which have unfolded in the recent past regarding the deal includes ‘Filling of arbitration before the International Chamber of Commerce (ICC) International Court of Arbitration regarding the sale’. This was done by SanDisk LLC, a wholly owned subsidiary of Western Digital Corporation accompanied by its subsidiaries.
‘Under The Table’
Toshiba was offered a lot more for the deal by the potential buyers including the big names but it seems like Toshiba wants to resolve the issue through the arbitration process despite SanDisk and Western Digital’s opposition.