Toshiba Corp and Western Digital Corp reached a broad accord on the sale of the Japanese conglomerate’s chip unit as the U. S. company has agreed to drop its legal actions, sources close to the matter said Monday. Western Digital CEO Steve Milligan is currently…
Toshiba Corp and Western Digital Corp reached a broad accord on the sale of the Japanese conglomerate’s chip unit as the U. S. company has agreed to drop its legal actions, sources close to the matter said Monday.
Western Digital CEO Steve Milligan is currently visiting Japan as the two companies have made progress on major issues at the working level. Milligan has met with officials of the Ministry of Economy, Trade and Industry, the sources said. The CEO is expected to continue to make final arrangements with Toshiba President Satoshi Tsunakawa.
Tsunakawa is likely to make a final decision on the deal at a board meeting Thursday and make an announcement the same day. Toshiba had told Western Digital a deal would be reached on condition the U. S. company drops its legal actions.
Western Digital, which has jointly invested in Toshiba’s Yokkaichi flash memory plant in central Japan, has taken the Japanese conglomerate to court to block the sale of Toshiba Memory Corp, claiming a sale without its consent would breach their joint venture contract.
