Western Digital, Japan's Kioxia Holdings Resume Merger Talks: Report

Western Digital Corp WDC resumed talks with Japan's Kioxia Holdings Corp in a deal that could unite two technology storage providers.
The parties discussed merging into one publicly traded company, Bloomberg reports.
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Kioxia spun off from Toshiba Corp TOSYY, and Western Digital operate a joint flash memory chip plant in central Japan's Yokkaichi.
In June, U.S.-based memory chip firm Western Digital disclosed reviewing strategic alternatives, including options for splitting off its flash-memory and hard disk drive businesses, Reuters reports.
Talks between the two companies had stalled over valuation discrepancies and uncertainty over securing approval from the Japanese government, failing to yield what could have been a $20 billion transaction.
Price Action: WDC shares traded higher by 2.87% at $34.00 in the premarket on the last check Thursday.
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