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Western Digital’s stock soars after WSJ report of talks on $20+ billion merger deal with Japan’s Kioxia

Western Digital's stock soars after WSJ report of talks on $20+ billion merger deal with Japan's Kioxia

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Shares of Western Digital Corp. WDC, +8.78% soared 11.7% in afternoon trading Wednesday, to pace the S&P 500’s SPX, +0.27% gainers, after The Wall Street Journal reported that the data storage company was in merger talks with Japan-based Kioxia Holdings Corp., in a deal that could be valued at more than $20 billion. Citing people familiar with the matter, the WSJ report said the long-running talks have heated up in the past few weeks, with a deal possible as early as the middle of September.

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