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Toshiba says Western Digital overstates its rights over chip business
September 14, 2017 / 4:14 AM / a month ago

Toshiba says Western Digital overstates its rights over chip business

TOKYO, Sept 14 (Reuters) - Toshiba Corp said business partner Western Digital Corp overstated its rights over a chip business unit that the Japanese conglomerate was trying to sell, showing the two sides remained at loggerheads over the $18 billion auction.

Toshiba said on Wednesday that it was stepping up talks to sell its semiconductor unit to a group led by Bain Capital. But it also said it would continue weighing a rival offer by Western Digital, which is also a joint venture partner.

“Toshiba regrets that Western Digital persistently overstates its limited consent rights in public statements,” it said in a statement, referring to the U.S. company’s claim that its consent is required for a sale as it has invested in Toshiba’s chip plant. (Reporting by Ritsuko Ando; Editing by Himani Sarkar)

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