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Toshiba shares jump by almost a fifth after Greenlight stake, court hearing

Toshiba shares jump by almost a fifth after Greenlight stake, court hearingToshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. Toshiba is scrambling to complete the sale of its chip unit to help cover billions in losses at its now-bankrupt Westinghouse nuclear unit. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company resolves its dispute with Western Digital and clears uncertainties around Westinghouse.


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