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Toshiba Corp (6502. T) said business partner Western Digital Corp (WDC. O) overstated its rights over a chip business unit that the Japanese conglomerate was trying to sell, showing the two sides remained at loggerheads over the $18 billion auction.
TOKYO (Reuters) – Toshiba Corp (6502. T) said business partner Western Digital Corp (WDC. O) overstated its rights over a chip business unit that the Japanese conglomerate was trying to sell, showing the two sides remained at loggerheads over the $18 billion auction.
Toshiba said on Wednesday that it was stepping up talks to sell its semiconductor unit to a group led by Bain Capital. But it also said it would continue weighing a rival offer by Western Digital, which is also a joint venture partner.
“Toshiba regrets that Western Digital persistently overstates its limited consent rights in public statements, ” it said in a statement, referring to the U. S. company’s claim that its consent is required for a sale as it has invested in Toshiba’s chip plant.