1994-07-05, English, Article, Other article edition: Digital Equipment is said to get bids of up to $400 million for disk-drive unit. (Quantum Corp said to be most serious bidder) Wilke, John R.

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Physical Description
  • Newspaper article
Published
  • Dow Jones &​ Company, Inc., 1994 July 5
Language
  • English

Edition details

Title
  • Digital Equipment is said to get bids of up to $400 million for disk-drive unit. (Quantum Corp said to be most serious bidder)
Also Titled
  • Digital Equipment is said to get bids of up to $400 million for disk-drive unit.
Appears In
  • The Wall Street Journal Western Edition, 1994 July 5, pA3(W) pA3(E) (ISSN: 0193-2241)
Author
  • Wilke, John R.
Published
  • Dow Jones &​ Company, Inc., 1994 July 5
Physical Description
  • Newspaper article
Subjects
Target Audience
  • General
  • Trade
Summary
  • DEC is reportedly reviewing bids from Seagate Technology, HP and Quantum Corp in connection with a planned sale of its disk-drive manufacturing operations. Quantum is said to be the most serious bidder, although company officials refused to comment on the negotiations. Some analysts believe DEC's disk-drive business could be sold for as much as $400 million. Such a sale would strengthen the cash position of the financially-troubled computer manufacturer. The company has been burdened with high operating costs and is in the midst of its third restructuring. DEC CEO Robert B. Palmer is expected to cut 20,000 more jobs from the company's worldwide operations in an effort to make the company more profitable. He is also expected to sell off other DEC assets, including the company's consulting division and part of its chip-manufacturing capacity. DEC reported 3rd qtr net losses of $183.3 million and may post 4th qtr operating losses of as high as $100 million.
Language
  • English
Database
  • Gale General OneFile
Identifier
  • 15556697

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