U.S. judge postpones decision in bid to block Toshiba memory unit sale

U.S. judge postpones decision in bid to block Toshiba memory unit sale

U.S. judge postpones decision in bid to block Toshiba memory unit sale

(Reuters) – A U.S. judge did not reach a decision Friday in Western Digital Corp’s bid to temporarily block Toshiba Corp from selling its flash memory business in an $18 billion deal but proposed requiring Toshiba to give Western Digital two weeks’ notice before closing.Toshiba is scrambling to sell its flash memory unit to cover losses from its nuclear reactor business.In late June, Toshiba announced its preferred bidder was a group made up of Bain Capital, South Korean chip maker SK Hynix and Japanese-government backed banks that offered $18 billion.Western Digital, which is also bidding, sued Toshiba in San Francisco County Superior Court in mid-June, saying it believed a joint venture with Toshiba means Toshiba needs its consent to sell the flash business.

Källa: U.S. judge postpones decision in bid to block Toshiba memory unit sale

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