Takeover Talks between Fujitsu, WD Fail

Fujitsu will have to wait longer to get rid of its blighted hard disk drive business as talks between the Japanese company and Western Digital failed to bear any results. Kuniaki Nozoe, Fujitsu’s President, stated in the most unequivocal fashion possible that the deal is off . According to him, the talks fell off after Western Digital refused to accede to Fujitsu’s demands. Fujitsu was keen on selling its Japanese plants and the ones abroad as a bundle. It even insisted upon most of the people employed in its hard drive business retaining their jobs. According to a Japanese newspaper, the asking price was $550 million. read more (link)