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Stock Market & Financial Investment News

News Breaks
December 3, 2013
05:31 EDTOCZ, TOSYYToshiba to purchase assets of OCZ Technology
Toshiba Corporation (TOSYY) announced that it has entered into an agreement with OCZ Technology Group (OCZ) to acquire substantially all the assets of OCZ Technology’s SSD business. The transaction will be completed through a sale and auction process pursuant to Section 363 of the U.S. Bankruptcy Code, and subject to approval by the bankruptcy court supervising OCZ Technology’s Chapter 11 bankruptcy. If Toshiba is selected as the successful bidder, subject to court and other regulatory approvals, the company expects to complete the acquisition in January 2014.
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