Nov 30 (Reuters) - Toshiba Corp and Western Digital Corp 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. 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 (Reporting by Shubham Kalia in Bengaluru; Editing by Gopakumar Warrier)