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Western Digital and Toshiba resolved dispute

Earlier this morning, reports surfaced that Toshiba Corp and Western Digital Corp have agreed to settle a dispute over Toshiba’s plans to sell its chip unit. A key obstacle to the $18bn sale of Toshiba Memory to a consortium led by Bain Capital has now been removed. Toshiba’s sale of Toshiba Memory was agreed in September and was forced upon the group as it attempts to cover billions of dollars in liabilities arising from its US nuclear power unit, Westinghouse. As it stands, Western Digital will now drop arbitration claims seeking to stop the sale of Toshiba Memory in exchange for Toshiba allowing Western Digital to invest in a new production line for advanced memory chips.

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