TOKYO (Reuters) - Western Digital Corp (WDC.O) said on Tuesday it will seek an injunction to block the sale of Toshiba Corp’s (6502.T) prized semiconductor business to a rival group, upping the ante in an acrimonious battle with its chip venture partner.
The latest legal action by the U.S. firm, which jointly invests in Toshiba’s main chip plant, comes in the wake of the Japanese conglomerate’s decision last week to sell the unit to a consortium led by Bain Capital LP and South Korean chipmaker SK Hynix (000660.KS).
The $18 billion agreement with the Bain group is, however, still unsigned, with Toshiba telling its main banks this week that Apple Inc (AAPL.O), a member of the consortium and an important client, had yet to agree to key terms.
Western Digital’s injunction is being sought with the International Court of Arbitration, where the California-based company, which argues no deal can be done without its consent, initiated proceedings against its partner earlier this year. read more here