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Dec. 12, 2017, 5:37 p.m. EST

Toshiba settles with Western Digital, clearing path for Bain-Apple acquisition

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By Jeremy C. Owens

Toshiba Corp. /zigman2/quotes/205628942/delayed JP:6502 -1.07% and Western Digital Corp. /zigman2/quotes/204213617/composite WDC -3.01% officially settled litigation Tuesday that should clear a path for a long-planned sales of Toshiba's flash-memory unit. Toshiba has agreed to sell the business to a consortium led by private-equity firm Bain Capital, which includes Apple Inc. /zigman2/quotes/202934861/composite AAPL -2.26% , Dell Technologies Inc., Seagate Technology PLC /zigman2/quotes/201824240/composite STX -1.30% and others. Western Digital made its own bid for the assets, and eventually sued Toshiba based on joint-manufacturing agreements. Western Digital confirmed reports earlier in the day of a settlement with a filing Tuesday afternoon that breaks down the revised agreement for new manufacturing facilities. Toshiba is seeking to sell its profitable flash-memory unit as part of an effort to avoid having its stock delisted in Japan due to struggles at its U.S. nuclear subsidiary, Westinghouse. Western Digital shares increased more than 2% in after-hours trading Tuesday.

/zigman2/quotes/205628942/delayed
JP : Japan: Tokyo
¥ 3,250.00
-35.00 -1.07%
Volume: 1.59M
Feb. 21, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.92%
Market Cap
¥1474.14 billion
Rev. per Employee
¥26.86M
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/zigman2/quotes/204213617/composite
US : U.S.: Nasdaq
$ 66.98
-2.08 -3.01%
Volume: 4.10M
Feb. 21, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
2.99%
Market Cap
$20.02 billion
Rev. per Employee
$270,824
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 313.05
-7.25 -2.26%
Volume: 32.43M
Feb. 21, 2020 4:00p
P/E Ratio
24.72
Dividend Yield
0.98%
Market Cap
$1369.74 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/201824240/composite
US : U.S.: Nasdaq
$ 54.04
-0.71 -1.30%
Volume: 2.36M
Feb. 21, 2020 4:15p
P/E Ratio
8.77
Dividend Yield
4.81%
Market Cap
$14.10 billion
Rev. per Employee
$263,814
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