While this will bring much needed closure to the case, Toshiba can now allocate more resources to its other disputes including the potential delisting of its stock from the Tokyo Exchange.
According to a Bloomberg report, Western Digital Corp and Toshiba Corp are set to settle their legal dispute over Toshiba’s sale of its NAND memory business.
Under an agreement, Western Digital will drop its efforts to block Toshiba’s $18 billion sale of its flash-memory business in exchange for the extension of their joint venture agreements, said Bloomberg’s report citing sources familiar with the matter.
Toshiba and Western Digital were not immediately available for comment.
In October, Western Digital had rejected demands from Toshiba Corp to drop its legal rights that allows it to block Toshiba’s $18 billion sale of its NAND memory chip unit to a Bain Capital led consortium.