Western Digital, Japan's Kioxia Holdings Resume Merger Talks: Report

Loading...
Loading...
  • Western Digital Corp WDC resumed talks with Japan's Kioxia Holdings Corp in a deal that could unite two technology storage providers.
  • The parties discussed merging into one publicly traded company, Bloomberg reports.
  • Also Read: Why Is This Analyst Bearish On Western Digital And Sees Downside
  • Kioxia spun off from Toshiba Corp TOSYY, and Western Digital operate a joint flash memory chip plant in central Japan's Yokkaichi.
  • In June, U.S.-based memory chip firm Western Digital disclosed reviewing strategic alternatives, including options for splitting off its flash-memory and hard disk drive businesses, Reuters reports.
  • Talks between the two companies had stalled over valuation discrepancies and uncertainty over securing approval from the Japanese government, failing to yield what could have been a $20 billion transaction.
  • Price Action: WDC shares traded higher by 2.87% at $34.00 in the premarket on the last check Thursday.
  • Photo Via Wikimedia Commons
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: M&ANewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...