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Western Digital in advanced talks to merge with Japan's Kioxia Holdings: WSJ

Western Digital in advanced talks to merge with Japan's Kioxia Holdings: WSJ

The logo of Western Digital Corporation is displayed at the company's headquarters in Tokyo, Japan, May 27, 2019. REUTERS/Yoshiyasu Shida

NEW YORK: Western Digital Corp is in advanced talks to merge with Japanese semiconductor firm Kioxia Holdings Corp in a deal potentially valued at more than US$20 billion, the Wall Street Journal reported on Wednesday.

Western Digital's shares jumped as much as 15 per cent in afternoon trading.

The companies could reach an agreement as early as mid-September, the report said, citing people familiar with the matter.

Western Digital and Kioxia did not immediately respond to Reuters requests for comment.

Source: Reuters

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