Western Digital in talks to merge with Japan’s Kioxia -source

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The logo of Western Digital Corporation is displayed at the company’s headquarters in Tokyo, Japan, May 27, 2019. REUTERS/Yoshiyasu Shida

NEW YORK/TOKYO, Aug 25 (Reuters) – U.S.-based Western Digital Corp (WDC.O) is in advanced talks on a possible $20 billion stock merger with Japanese chipmaker and partner Kioxia Holdings Corp, a person familiar with the matter told Reuters.

The companies could reach an agreement as early as mid-September, and Western Digital Chief Executive Officer David Goeckeler would run the combined firm, said the source, who requested anonymity to discuss confidential matters.

The Wall Street Journal reported the talks earlier on Wednesday.

A combination of the two would create a firm with market share equaling leader Samsung Electronics Co Ltd (005930.KS) and rewrite the competition to capture robust demand driven by new smartphone launches, 5G expansion and a pandemic-fueled rise in work from home.

While Samsung dominates with over…

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