The Western Digital logo is displayed outside the company’s factory in Bayan Lepas Free Industrial Zone, Penang, Malaysia.
Goh Seng Chong | Bloomberg | Getty Images
Shares of Western Digital rose more than 6% 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.
The deal comes just months after the newspaper reported that both Western Digital and chip maker Micron Technology were studying possible deals with the Japanese company. That deal would have valued Kioxia at about $ 30 billion, the newspaper reported.
A Western Digital spokesman declined to comment on the report.
The deal, which Western Digital reportedly will pay in shares, could end in mid-September, according to the newspaper, according to people familiar with the matter. People added that CEO David Goeckeler will likely continue to run the company.
Read the full story in the Wall Street Journal.