Toshiba, Western Digital end chip dispute, resume joint investment

Reuters News
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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.

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