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Toshiba, Western Digital to settle dispute: Bloomberg

(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.

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

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. 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

Our Standards:The Thomson Reuters Trust Principles.

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