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Seagate and Toshiba said to vie for TDK's hard-drive magnetic heads unit, Bloomberg reports
Seagate Technology and Toshiba are locked in a contest for TDK's magnetic-heads business for hard-disk drives as the two rivals try to keep pace with demand for AI data-center storage devices, Bloomberg reported, citing people familiar with the matter. Toshiba initiated talks with TDK in the spring, followed by a higher offer from Seagate in the summer; the acquisition is expected to be worth as much as several billion dollars, the people said. Seagate and TDK declined to comment, and a Toshiba spokesperson said the report was inconsistent with its understanding.