Western Digital Must Sell Assets To Clear $4.5B Hitachi Buy

Law360, New York (March 5, 2012, 8:11 PM EST) -- The Federal Trade Commission on Monday said that in order for Western Digital Corp. to win approval for its proposed $4.5 billion takeover of Hitachi Global Storage Technologies Ltd., the company must sell its desktop hard disk drive manufacturing assets to Toshiba Corp.

The proposed settlement will mitigate the potentially anti-competitive impact of the merger on the hard disk drive market, the commission said. The FTC worried that if the deal were to go through as initially proposed, it would leave Western Digital and Seagate Technology...
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