Seagate and Toshiba Wage Multibillion-Dollar Bidding War for TDK's Hard Drive Tech

Seagate and Toshiba are actively contesting the acquisition of TDK's hard-disk drive magnetic-heads business. The transaction is projected to be worth several billion dollars as both companies vie for critical supply chain assets. Toshiba initiated negotiations in the spring, which prompted Seagate to submit a higher competing bid during the summer. The aggressive consolidation effort is directly fueled by the escalating need for high-capacity storage in AI data centers. Representatives have not publicly confirmed the talks, which currently remain private.