The heads of Toshiba (TOSYY) and U.S. semiconductor company Western Digital (WDC) - Get Report are set to have a face-to-face meeting as soon as this month to resolve the sale of Toshiba's memory chip unit, Asia Nikkei Review reports.
The meeting will include Western Digital CEO Stephen Milligan and Toshiba CEO Satoshi Tsunakawa along with members from the Ministry of Economy, Trade and Industry, the report added.
The Japanese conglomerate has been trying to sell the unit to cover losses from its bankrupt U.S. business Westinghouse. The company previously struggled to close a 2 trillion yen ($18 billion) deal with the consortium, backed by the Japanese government, Bain Capital, and South Korean chipmaker SK Hynix.
That deal hit a snag after Western Digital, which jointly runs Toshiba's main chip plant, blocked the sale and sought an injunction to prevent the deal without its consent.
During the upcoming meetings, Tsunakawa will reportedly urge Western Digital to drop the lawsuit opposing the deal, while Milligan will attempt to make Western Digital part of the consortium.
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