(Reuters) – Western Digital Corp is in advanced talks to merge with Japanese semiconductor firm Kioxia Holdings Corp in a deal potentially valued at more than $20 billion, the Wall Street Journal reported on Wednesday.
Western Digital’s shares jumped as much as 15% in afternoon trading.
The companies could reach an agreement as early as mid-September, the report https://on.wsj.com/2Wn8KHC said, citing people familiar with the matter.
Western Digital and Kioxia did not immediately respond to Reuters requests for comment.
(Reporting by Eva Mathews in Bengaluru; Editing by Devika Syamnath)
