Seagate and Toshiba Enter Multibillion-Dollar Bidding Contest for TDK's HDD Magnetic-Head Unit

Bloomberg reports Seagate and Toshiba are both bidding for TDK's HDD magnetic-head business, with the deal potentially worth several billion dollars. TDK is the only independent HDD head maker and supplies Seagate, Toshiba and Western Digital. Toshiba opened talks in spring; Seagate countered higher over the summer. The AI-driven surge in cold-storage demand is driving the contest.