| TOKYO
TOKYO Western Digital Corp (WDC.O) has sought international arbitration to stop partner Toshiba Corp (6502.T) from selling its chips arm without its consent, potentially derailing a much-needed capital injection for the Japanese conglomerate.
The two companies jointly operate Toshiba's main semiconductor plant but Western Digital is not a favored bidder for the world's second biggest NAND chip producer, having put in a much lower offer than other suitors, a source with knowledge of the matter has said.
A legal battle could delay or put an end to an auction that could fetch some $18 billion and has attracted suitors such as private equity firm KKR & Co LP (KKR.N), Taiwan's Foxconn (2317.TW) and U.S. chipmaker Broadcom (AVGO.O). read the rest here