Western Digital gets $900 million investment from Apollo, Elliott

"We look forward to working together in advancing our goal of creating value and finalizing the best possible strategic outcome for our shareholders," said Goeckeler.

The latest investment is a precursor to a potential merger between Silicon Valley-based Western Digital and Japan's Kioxia Holdings Corp, according to people familiar with the matter. The sources, who requested anonymity as these discussions are confidential, said the talks between Western Digital and Kioxia are still active.Bloomberg reported on the talks between Western Digital and Kioxia earlier.

Western Digital and Kioxia jointly produce NAND chips, which are widely used in smartphones, TVs, data center servers and public announcement display panels.Qatalyst Partners, Lazard and J.P. Morgan are serving as Western Digital's financial advisers and Skadden, Arps, Slate, Meagher & Flom LLP is serving as Western Digital's legal adviser.

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