Sunday 22 July 2018 ,
Sunday 22 July 2018 ,
Latest News
  • AL to accord mass reception to PM today
  • 2 ‘drug traders’ killed in Kushtia, C’nawabganj ‘gunfights’
  • People suffer amid scorching heat; rain expected
  • Mount pressure on Naypyitaw
  • High feed prices hamper fattening of cows
14 December, 2017 00:00 00 AM
Print

Toshiba, Western Digital settle legal battle over chip unit sale

AFP

AFP, TOKYO: Toshiba settled legal disputes with US production partner Western Digital, both firms said yesterday, clearing the way for the embattled Japanese conglomerate’s multi-billion-dollar sale of its prized chip business.

Toshiba has been on the ropes after the disastrous acquisition of US nuclear energy firm Westinghouse, which racked up billions of dollars in losses before being placed under bankruptcy protection.

In order to survive and avoid a humiliating delisting from the stock exchange, Toshiba decided to sell its coveted chip business to a consortium led by Bain Capital.

But US chipmaker Western Digital, which has been engaged in joint production with Toshiba in Japan, opposed any sale to a third party without its consent and launched a series of legal actions.

That sparked counter-litigation by Toshiba, spawning fears the much-needed sale for the cash-strapped group could be derailed.

Yesterday, they said in a joint statement they “have entered into a global settlement agreement to resolve their ongoing disputes in litigation and arbitration, strengthen and extend their relationship, and enhance the mutual commitment to their ongoing flash memory collaboration”.

 

Comments

Poll
Today's Question »
Dhaka wants UNSC to deliver on Rohingya issue as the powerful council sits tomorrow. Do you think it’ll be able to take any effective measure?
 Yes
 No
 No Comment
Yes 87.5%
No 8.3%
No Comment 4.2%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
01020304050607
08091011121314
15161718192021
22232425262728
293031

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting