WDC - Western Digital gains on report talks with Kioxia speeding up

2023-05-15 08:54:47 ET

• Western Digital ( NASDAQ: WDC ) rose 7.8% in premarket trading on a report that discussions with Kioxia Holdings are speeding up and getting closer to a deal structure.
• Under the transaction being discussed, the new company would be 43% owned by Kioxia and 37% owned by Western Digital ( WDC ) and the remainder by existing holders of the companies, according to a Reuters report on Monday, which cited people familiar.
• No agreement has been reached and the deal is likely to see antitrust concerns in several countries, including in the U.S. and China, Reuters said.  A Kioxia spokesperson declined to comment, while Western Digital ( WDC ) didn't immediately respond to request for comment.
• The Reuters report comes after Bloomberg reported in January that talks about a about a potential merger were advancing with rough structure including a dual-listing in Japan being possible part of the deal.

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