


Kioxia and Western Digital split into two companies, merger plan scrapped
According to news from this site on October 30, Kioxia (formerly Toshiba Storage, sold to Bain Capital in the United States for US$18 billion in 2018, and renamed Kioxia in October 2019) and Western Digital have been working together since 2021. Merger negotiations were conducted, and the merger was opposed by SK Hynix, so the merger negotiations were suspended on October 26.
Western Digital announced on Monday that it will spin off into two independent publicly traded companies focused on the hard drive and flash memory markets after merger talks with Kioxia stalled.
At the time of publication, Western Digital’s stock price had risen by more than 10% before the market opened.

Last year, activist investor Elliott Management The company has begun a review after disclosing a nearly $1 billion stake in Western Digital and pushing to separate its businesses. Last week it was reported that Western Digital and Western Digital were involved in a deal amid objections from Kioxia investor SK Hynix. The deal started to get complicated as merger talks between Kioxia stalled.
Western Digital has been grappling with a global chip supply glut and weak demand for flash memory products, increasing pressure on chipmakers to consolidate
If the Western Digital and Kioxia deal goes through, The combined company will account for one-third of the global NAND flash memory market and be on par with leading manufacturer Samsung Electronics, which will pose a threat to the position of SK Hynix, the world's third largest NAND flash memory manufacturer.
According to "Given the current constraints, it has become increasingly clear to the Board in recent weeks that a spin-off is the right next step in Western Digital's evolution and will best position the company to unlock value for our shareholders," said CEO David Goeckeler
According to the company’s plan, these businesses will be separated in a tax-free manner and are expected to be completed in the second half of 2024
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