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

  • January 5, 2023


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.


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.

February 1, 2023: Western Digital Corp. (WDC is receiving a $900 million investment led by Apollo Global Management Inc., getting financial firepower at a tough time for the memory industry that could see further consolidation.

May 15, 2023: Reuters reported Kioxia Holdings Corp and Western Digital Corp are speeding up merger talks and nailing down a deal structure.

January 27, 2024: According to Reuters, Bain Capital is in talks with SK Hynix, to restart negotiations to merge memory chip makers Western Digital (WDC) and Japan’s Kioxia Holdings.

February 23, 2024: Semiconductor maker Kioxia Holdings and U.S. partner Western Digital Corporation (WDC) will resume negotiations for a potential merger in late-April 2024, Japanese newspaper Asahi Shimbun reported.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.