Western Digital in talks for $20 bln merger with Japan's Kioxia

2021-08-26 03:38:52

Asian Tech Press (Aug 26) -- U.S. computer company Western Digital Corp is in advanced talks with Japan's Kioxia Holdings Corp about a potential merger and acquisition in a deal that could be valued at as much as $20 billion, The Wall Street Journal reported Wednesday.

Kioxia is the world's second largest maker of flash memory chips, and formerly known as Toshiba Memory.

The two sides would reach an agreement as early as mid-September, and Western Digital's current CEO David Goeckeler would be responsible for the management of the combined company.

Affected by the news, Western Digital shares rose 15% at one point, with a market value of $21.45 billion.

The report said that if no merger agreement is eventually reached, Kioxia may restart its IPO plan as early as September.

Western Digital Kioxia chip maker corporate merger Japan IPO

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