News Formal

Western Digital Stock Tumbles on Report Kioxia Merger Talks Have Been Terminated

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Reports have circulated that Western would combine its flash business with Kioxia, separating it from its disk drive operation.

Western Digital shares fell sharply on a report that talks about merging the company’s flash memory business with its joint-venture partner Kioxia have been terminated.

There have been reports for many months now that Western Digital and Kioxia were discussing a transaction in which Western would combine its flash business with Kioxia, separating it from the disk drive operations. The activist investment firm Elliott Management has been pressuring Western to spin off the flash business since May 2022, and the company has agreed to consider potential strategic transactions.

Wall Street still thinks the structure of Western Digital will eventually change, whether or not the deal happens.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Western Digital and Japan's Kioxia call off merger talks, Nikkei saysWestern Digital and Japan's Kioxia call off merger talks, Nikkei says
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market News Today: Dow Opens Higher, Meta Stock Price Falls; Amazon Earnings in FocusLive updates on what's moving markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market Today: Dow, S&P 500 Open Lower; Alphabet Stock Price FallsLive updates on what's moving markets, including stocks the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market News Today: Dow, Nasdaq Slip; Alphabet Stock Price FallsLive updates on what's moving markets, including stocks the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market News Today: Nasdaq Falls 300 Points; Alphabet Stock Price Falls After EarningsLive updates on what's moving markets, including stocks the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Source: WSJ - 🏆 98. / 63 Read more »