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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
It’s been a trying process, hampered by legal interference and government pushback, but Toshiba Corp has finally committed to selling its memory chip unit.
The Japanese firm reportedly closed a ¥2 trillion ($18 billion) deal with an American group led by Bain Capital early Wednesday. The transaction includes Toshiba’s $3.1 billion investment in the unit, as well as stakes from Apple Inc. (NASDAQ:AAPL), Seagate Technology PLC (NASDAQ:STX), Dell Inc., Kingston Technology Company, Inc., Hoya Corp and SK Hynix Inc.
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The arrangement was ultimately preferred to bids by KKR & Co. and two state-backed Japanese entities.
Toshiba intends to see the deal through in spite of expected legal objections from partner Western Digital Corp (NASDAQ:WDC), which claims veto power. The seller has sued Western Digital for $1 billion for its interference, and the battle is yet unresolved.
If it remains ongoing by the date of the deal’s closure, three joint ventures worth less than 5 percent of the unit will not be included in the Bain sale.
Shares of Western Digital were down more than 4 percent in pre-market trading.
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Toshiba's Chips Are Past Their Sell-By Date, And Investors Are Buying American
Image: © Raimond Spekking, via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.