Jun 28, 2017

Toshiba sues Western Digital over memory chip sale

Toshiba is suing Western Digital for 120bn yen, accusing it of interfering in the attempted sale of its flash memory business. Western Digital, a partner of Toshiba, objects to that proposed deal. Toshiba said Western had "Continually interfered with the bid process" and "Exaggerated" the amount of say it had in whether any sale went through. Earlier on Wednesday Toshiba said it had failed to complete a deal to sell the chip unit to a consortium of US, South Korean and state-backed Japanese investors, reportedly worth about $18bn. On Tuesday, Western resubmitted its own bid for the chip division, which had been unsuccessful first time around.

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