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