Western Digital's Battle for Toshiba's Memory Finally Ends
Western Digital's (NASDAQ: WDC) lengthy battle over Toshiba's (NASDAQOTH: TOSBF) memory unit seemingly ended on Sep. 20, with Toshiba's board voting to sell the business to a consortium led by SK Hynix and Bain Capital for about $18 billion. Western Digital stated that it was "disappointed" in Toshiba's decision, and insisted that it violated contractual agreements with its subsidiary SanDisk.
At the heart of this conflict is a NAND joint venture between Toshiba and SanDisk that Western Digital acquired for $15.8 billion last year. Shortly afterwards, Toshiba decided to sell its entire memory chip business to offset massive losses as its US nuclear division. WD opposed the sale, stating that it violated JV agreements between SanDisk and Toshiba. Toshiba then sued WD for allegedly interfering with the bidding process.
Image source: Getty Images.
Source: Fool.com
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