According to Bloomberg, The Japan-based Toshiba and US-based Western Digital are close to settling their legal dispute.
According to Bloomberg, Western Digital will drop efforts to block the Japanese company’s $18 billion sales of its flash-memory business under an agreement to exchange for the extension of their joint venture agreements.
However, both the firms haven’t commented yet on the agreement.
in October, Western Digital had rejected calls from Toshiba Corp to withdraw a set of legal rights that would allow the US company to block Toshiba’s $18 billion sales of its memory chip unit to SK Hynix.
Earlier this month, Toshiba said it had not entered into talks with any company to sell its personal computer business, denying media reports that it was in negotiations to sell the unit to Taiwan’s Asustek Computer.
According to Toshiba, as it previously said, it is looking to sell the PC business, a small part of the industrial conglomerate, as it races to bolster its balance sheet by the end of March to avoid a possible delisting.
The PC business accounted for just 3.5 percent of Toshiba’s net revenue in April-September of JPY 84.1 billion ($747 million).