Western Digital shares soar following $20 billion merger report
The Western Digital emblem is displayed outdoors the corporate’s manufacturing facility within the Free Industrial Zone in Bayan Lepas, Penang, Malaysia.
Goh Seng Chong | Bloomberg | Getty Photos
Shares of Western Digital closed up 7.8% Wednesday following a Wall Avenue Journal report the corporate may merge with Japan’s Kioxia Holdings in a $20 billion-plus deal.
The reported deal comes simply months after the newspaper reported that each Western Digital and chipmaker Micron Expertise had been wanting into potential offers with the Japanese firm. That deal would have valued Kioxia at roughly $30 billion, the Journal reported.
A Western Digital spokesperson declined to touch upon the report.
The deal, which Western Digital will reportedly pay for in inventory, may finalize as early as mid-September, the Journal stated, in response to individuals aware of the matter. The individuals added that Chief Government David Goeckeler will probably proceed to run the corporate.
Learn the total story within the Wall Avenue Journal.