Hitachi Ltd. , Japan’s second-largest manufacturer by revenue, climbed to a two-year high in Tokyo trading after agreeing to sell its hard-disk drive unit to Western Digital Corp. for about $4.3 billion.
Sita Magar is a single mother of four who earns whatever she can wring from six goats and the muscle of a rented water buffalo. After paved roads end, it takes four hours to reach her farm along a trail where felled trunks, like twisted balance beams, span a raging stream. Even so, a recruiter feeding migrant workers into the global electronics industry found Magar in her mountainside Nepalese village last year. He convinced her to borrow more money than she’d ever seen, about $1,000, and pay him to get her daughter a position at a factory in Malaysia.
The U.S. Securities and Exchange Commission, in a third insider-trading trial defeat in the past year, lost its lawsuit claiming STEC Inc.’s former chief executive officer made $134 million by selling stock before divulging a sales setback to investors.
Western Digital Corp., the maker of hard drives and home-entertainment devices, reached its highest in more than 15 years on speculation the company may go private following the potential buyout of Dell Inc.
Western Digital Corp. asked the European Union’s general court to overturn a regulator’s decision to give priority to a review of an acquisition by hard- disk storage industry rival Seagate Technology Plc.
Seagate Technology Plc , the disk- drive maker that ended takeover talks with TPG Capital, also turned down a proposal from competitor Western Digital Corp., according to two people with knowledge of the matter.