Toshiba and Western Digital close to settling their legal dispute
San Francisco/Tokyo — Toshiba and Western Digital are close to settling their legal dispute under an agreement that the US company will drop efforts to block Toshiba’s $18bn sale of its flash-memory business in exchange for the extension of their joint-venture agreements, according to people familiar with the matter. Western Digital plans to end arbitration claims in the US to stop Toshiba from selling the chip business to a consortium led by Bain Capital as part of the settlement, said the people, asking not to be identified because the matter is private. The US company would get a guaranteed supply of newer chips from a more advanced plant in Japan being built by Toshiba that it will invest in. The two sides still have to work out several key details and it’s possible a final deal will not be reached, the people said. The partners have been locked in a fierce legal battle since early this year after Toshiba said it would sell the chip business to pay for enormous losses in its US ...
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