Deals
Toshiba Will Give Western Digital Advance Notice of Chip-Unit Sale
- California company said it will move ahead with arbitration
- Japanese firm says agreement won’t get in the way of a sale
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Western Digital Corp. said it will move forward with arbitration to get a say over Toshiba Corp.’s sale of its chip unit after the Japanese company agreed to provide notice before closing.
The companies announced Friday they’d reached an agreement providing for two weeks’ advance notice. The two manufacturers, which are in a joint venture to produce memory chips, submitted the agreement to a San Francisco state judge who had proposed it two weeks ago.