{"id":9571,"date":"2023-05-16T15:57:42","date_gmt":"2023-05-16T19:57:42","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/western-digital-and-kioxia-speeding-up-merger-talks-amid-weak-industry-trends-report\/"},"modified":"2023-05-16T15:57:43","modified_gmt":"2023-05-16T19:57:43","slug":"western-digital-and-kioxia-speeding-up-merger-talks-amid-weak-industry-trends-report","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9571","title":{"rendered":"Western Digital and Kioxia speeding up merger talks amid weak industry trends – report"},"content":{"rendered":"
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\u00a9 Reuters. Western Digital (WDC) and Kioxia speeding up merger talks amid weak industry trends – report<\/span>
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Western Digital <\/span><\/span> (NASDAQ:) and Kioxia Holdings Corp are speeding up merger talks and discussing a deal structure as both companies continue to be pressured by a slump in demand for memory products, Reuters reports.<\/p>\n

Excess inventory amid weak demand in the memory market hit both companies hard. The two companies believe that a single entity would be better positioned to compete against rivals, like Samsung Electronics (KS:).<\/p>\n

The merged entity would be 43% owned by Kioxia, 37% by Western Digital, and the rest by existing shareholders of the companies, Reuters added.<\/p>\n

Western Digital shares are up about 3% in premarket on the Reuters story.<\/p>\n

The planned merger is likely to attract anti-trust scrutiny, likely in the United States and China.<\/p>\n

Activist investor Elliott Management has a stake in WDC and is pushing for changes. On the other hand, Toshiba (TYO:) has a 40.6% stake in Kioxia. Elliott is also a shareholder of Toshiba.<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Western Digital (WDC) and Kioxia speeding up merger talks amid weak industry trends – report Western Digital (NASDAQ:) and Kioxia Holdings Corp are speeding up merger talks and discussing a deal structure as both companies continue to be pressured by a slump in demand for memory products, Reuters reports. Excess inventory amid weak […]<\/p>\n","protected":false},"author":1,"featured_media":9572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-9571","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nWestern Digital and Kioxia speeding up merger talks amid weak industry trends - report | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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