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Toshiba, Western Digital trade barbs in row over $18-bn chip unit auction

However, Western Digital is still seeking arbitration

Reuters  |  Tokyo 

Western Digital said on Thursday it is still seeking arbitration in a dispute with Toshiba Corp over the auction of its prized chip unit, arguing that a transfer of assets by the Japanese firm had not resolved what it calls a serious breach of contract. The two are at loggerheads over the sale of the unit — the world's second-largest producer of NAND chips — that the Japanese conglomerate values at least $18 billion. Toshiba is depending on the auction to cover billions of dollars in cost overruns at its now bankrupt US nuclear unit Westinghouse. Western Digital, ...

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First Published: Thu, June 01 2017. 19:25 IST