TECH - Western Digital Acquirer Kioxia Needs Capital Taps JIC As Merger Approaches Deadline | Benzinga
Kioxia Holdings Corp reached out to Japan Investment Corp to help with capital infusion to support its merger with Western Digital Corp (NASDAQ: WDC).
Kioxia's lenders look to submit a commitment letter by Friday to help facilitate the agreement, Bloomberg reports. The financial details regarding the capital infusion remain undisclosed.
The banks called for additional investment to bolster its balance sheet.
JIC, a state-backed investment fund, is considering the request.
Kioxia and Western Digital look to ...