InsideArbitrage Potential Deal Alert: Western Digital (WDC), Kioxia Revive Merger Talks

  • January 5, 2023

POTENTIAL DEAL DETAILS

StockWestern Digital CorporationSymbolWDC
Date Announced01/04/2023Source Bloomberg
TypeNews Report

Western Digital Corp. (WDC) has restarted talks with Japan’s Kioxia Holdings Corp. in a deal that could unite two technology storage providers, according to people familiar with the matter.

Update(s):

January 21, 2023: Western Digital Corp. (WDC) and Japan’s Kioxia Holdings Corp. are progressing in their merger talks and have figured out a rough structure that would eventually involve a dual-listing in Japan, according to people familiar with the matter.

Under the terms being discussed, Western Digital would spin off its flash business and merge it with Kioxia, creating a publicly traded company in the US, the people said, asking not to be named because the matter is private. The company would also plan a second stock listing in Japan, they added.

 

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