Toshiba and Western Digital Settle Spat Over NAND Chip Deal

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Toshiba and Western Digital Settle Spat Over Chip Sale
Toshiba Corp. and Western Digital Corp. have agreed in principle to settle their legal dispute over the $18 billion sale of Toshiba’s flash-memory business with a formal announcement expected within the next 24 hours, according to people familiar with the matter.
The U.S. company will drop arbitration claims in the U.S. that were aimed at stopping Toshiba from selling the chip business to a consortium led by Bain Capital, while the Japanese company will end its legal claims against Western Digital, said the people, asking not to be identified because the matter is private. As part of the settlement, Western Digital will be able to invest alongside Toshiba in a cutting-edge chip plant in Japan and receive a guaranteed supply of next-generation memory chips, they said.