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Business deals

Micron and Western Digital explore possible deal for Kioxia: WSJ

Japanese semiconductor firm could be valued at around $30 billion, report says

Kioxia Holdings Corp, the world's second-largest maker of flash memory chips, had last year shelved plans for what would have been Japan's largest initial public offering in 2020.

Micron Technology Inc and Western Digital Corp are individually exploring a potential deal for Kioxia Holdings Corp that could value the Japanese semiconductor firm at around $30 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

A deal for Kioxia, which is controlled by private-equity firm Bain Capital, isn't guaranteed, and it isn't clear how it might be structured, the report said, adding that should a deal come together, it could be finalized later this spring.

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