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

  • 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
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