EU Clears Western Digital Buy of Hitachi Hard Disks, With Conditions
November 23 2011 - 6:59AM
Dow Jones News
The European Commission said Wednesday it approved Western
Digital Corp.'s (WDC) proposed acquisition of Hitachi Global
Storage Technology, a subsidiary of Hitachi of Singapore recently
renamed Viviti Technologies.
The approval is conditional upon the divestment of essential
production assets for 3.5-inch hard disk drives, including a
production plant, and accompanying measures. Western Digital cannot
complete the acquisition of Viviti until it has found a suitable
purchaser that is approved by the commission.
"Hard disk drives are a key component of computers and other
sophisticated electronic devices as they are used to store a
growing bulk of data in the digital economy. The proposed
divestiture will ensure that competition in the industry is fully
restored before the merger is implemented," said EU Competition
Commissioner Joaquin Almunia.
-By Frances Robinson, Dow Jones Newswires; +32 2 741 1486;
frances.robinson@dowjones.com