Toshiba, Western Digital end chip dispute, resume joint investment

Reuters News
Posted: Dec 12, 2017 5:24 PM

(Reuters) - Toshiba Corp <6502.T> and its chip business partner Western Digital Corp <WDC.O> agreed to settle a long-running dispute over the embattled Japanese conglomerate's plans to sell its chip unit, the companies said in a statement, removing a key obstacle to the deal.

Toshiba agreed in late September to sell Toshiba Memory, the world's second biggest producer of NAND chips, to the Bain-led consortium for $18 billion to cover billions of dollars in liabilities arising from its now bankrupt U.S. nuclear power unit Westinghouse.

Leaving the Left
John Stossel

(Reporting by Makiko Yamazaki in Tokyo and Rushil Dutta in Bengaluru; editing by G Crosse)