FILE PHOTO: The logo of Toshiba Corp is seen as window cleaners work on the company’s headquarters in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai/File Photo
December 1, 2017
(Reuters) – Toshiba Corp <6502.T> and Western Digital Corp <WDC.O> are said to be close to settling their legal dispute, Bloomberg reported on Thursday.
Under an agreement, Western Digital will drop efforts to block the Japanese company’s $18 billion sale of its flash-memory business in exchange for the extension of their joint venture agreements, Bloomberg reported, citing people familiar with the matter. https://bloom.bg/2zThOYu
Western Digital and Toshiba were not immediately available for comment.
Western Digital in October had rejected demands from Toshiba Corp to drop a set of legal rights that would allow the U.S. company to block Toshiba’s $18 billion sale of its memory chip unit to SK Hynix <000660.KS>
(Reporting by Shubham Kalia in Bengaluru; Editing by Gopakumar Warrier)
