Toshiba Corp. said Wednesday it has reached a settlement with U.S. joint venture partner Western Digital Corp. over the sale of its chip unit, ending a months-long legal battle and removing one of the major hurdles to completing the deal.
Cash-strapped Toshiba is seeking to raise funds through the sale of its chip unit Toshiba Memory Corp. to eliminate its negative net worth by the end of the business year in March and avoid a forced delisting from the Tokyo Stock Exchange.
But even though legal issues with Western Digital have been resolved, antitrust screening in major global markets could still be a major hurdle.