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The Western Digital logo is displayed outside the company’s factory in the Bayan Lepas Industrial Free Zone, Penang, Malaysia.
Goh Seng Chong | Bloomberg | Getty Images
Western Digital shares rose more than 6% on Wednesday afternoon following a Wall Street Journal report that the company could merge with Japan’s Kioxia Holdings in a more than $ 20 billion deal. of dollars.
The announced deal comes just months after the newspaper reported that WD and chipmaker Micron Technology were exploring potential deals with the Japanese company.
A Western Digital spokesperson declined to comment on the report.
The deal, which Western Digital would pay in stock, could be finalized as early as mid-September, the Journal said, according to people familiar with the matter. People added that CEO David Goekeler would likely continue to run the company.
Read the full article in the Wall Street Journal.
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