Western Digital takes legal action to block sale of Toshiba’s chip unit
Western Digital Corp (WDC.O) has sought international arbitration to stop partner Toshiba Corp from selling its chips arm without its consent, potentially derailing a much-needed capital injection for the Japanese conglomerate. Although the two companies jointly operate Toshiba’s main semiconductor plant, Western Digital is not seen as a favored bidder for the world’s second biggest NAND chip producer, having put in a much lower offer than other suitors, a source with knowledge of the matter has said. A legal battle could delay or put an end to the auction that could fetch some $18 billion and has attracted suitors such as private equity firm KKR & Co LP (KKR.N), Taiwan’s Foxconn (2317.TW) and U.S. chipmaker Broadcom (AVGO.O).
Source:: https://finance.yahoo.com/news/western-digital-seeks-arbitration-row-011011754.html
