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Western Digital shares soared following a $ 20 billion merger report

The Western Digital logo is displayed outside the company’s factory in the Free Industrial Zone of Bayan Repas in Penang, Malaysia.

Gosenchon | Bloomberg | Getty Images

Share Western Digital 7.8% close-up on Wednesday The Wall Street Journal Report The company said it could merge with Kioxia Holdings of Japan in transactions of more than $ 20 billion.

Reported transactions come Only a few months after the newspaper reported Both Western Digital and chip makers Micron Technology I was considering a potential transaction with a Japanese company. The deal would have valued Kioxia at around $ 30 billion, the journal reported.

A Western Digital spokeswoman declined to comment on the report.

The deal, which Western Digital is reported to pay for shares, could close as early as mid-September, according to people familiar with the matter. People added that CEO David Geckerer is likely to continue to run the company.

Read the full text of The Wall Street Journal.

https://www.cnbc.com/2021/08/25/western-digital-shares-soar-following-20-billion-merger-report.html Western Digital shares soared following a $ 20 billion merger report

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