Toshiba, Western Digital to settle dispute: Bloomberg

© Reuters. FILE PHOTO: Logo of Toshiba Corp is seen as Window cleaners work on the company's headquarters in Tokyo© Reuters. FILE PHOTO: Logo of Toshiba Corp is seen as Window cleaners work on the company’s headquarters in Tokyo

(Reuters) – Toshiba Corp (T:) and Western Digital Corp (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 (KS:)

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