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UPDATE 1-Toshiba, Fujitsu hard drive deal delayed by 1 month

Thu Jun 18, 2009 5:10am EDT

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* Toshiba to take over Fujitsu hard drive ops in Aug

* Deal hits snag with one antitrust authority

TOKYO, June 18 (Reuters) - Japan's Toshiba Corp (6502.T) plans to postpone its $310 million takeover of Fujitsu Ltd's (6702.T) loss-making hard drive business by one month while it awaits approval from one antitrust regulator.

The union of the two firms' hard drive operations has received the go-ahead from the United States, the European Union and all other regulators with the exception of one, the two firms said on Thursday.

Toshiba and Fujitsu declined to name the antitrust regulator but other Japanese companies have faced regulatory delays in neighbouring China. [ID:nT358895]

Toshiba, which competes with bigger rivals Seagate Technology, (STX.O), Western Digital Corp (WDC.N) and Hitachi Ltd (6501.T) in hard drives, now aims to buy 80.1 percent of Fujitsu's HDD operations by Aug. 1, instead of in July. ($1=95.84 Yen) (Reporting by Mayumi Negishi and Yumiko Nishitani; Editing by Chris Gallagher)



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