Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Alejandro86 for the clue delivery! CTOnews.com, October 20 (Xinhua)-- Western Digital (Western Digital) and Armor (Kioxia) are about to reach an agreement. The agreement will involve a spin-off of Western Digital's NAND flash memory business and the merger of Western Digital and Armor to form a new company.

▲ source armor while according to foreign media Japantimes, Kaixia is currently in contact with the Japan Investment (JIC) fund, hoping the latter to inject capital to support its merger with Western Digital.

▲ source Japantimes said the lender was trying to submit a commitment as soon as Friday to help broker a deal, according to a person familiar with the matter who spoke on the condition of anonymity because of undisclosed negotiations.

CTOnews.com also found that "people familiar with the matter" said the two companies were seeking to conclude negotiations this month and were expected to announce the deal no later than Western Digital's results on October 30.

Foreign media said it was not clear how much money the armor was seeking from JIC or whether JIC would really support the merger of Xia and Western Digital. None of the three responded to requests for comment.

Details of the merger remain secret, but "people familiar with the matter" claim that Western Digital shareholders will control slightly more than half of the combined company.

Related reading: "(updated) SK Hynix denies" opposing the merger of Armor and Western Digital and asking Softbank Corp. for assistance "

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