Western Digital Corp's talks to merge with Japanese chipmaker and partner Kioxia Holdings Corp have stalled over the last few weeks, two people familiar with the matter told Reuters on Thursday. The talks reached a standstill over concerns about the valuation, approval from the Japanese government and an ongoing strategic review at Kioxia shareholder Toshiba Corp, the sources said. Earlier in August, Reuters reported that Western Digital was in advanced talks for a possible $20 billion stock merger with Kioxia, in a move that would create a NAND memory giant to rival Samsung Electronics.
Japanese industrial conglomerate Toshiba Corp said on Monday it would announce the results of a strategic review of its business along with its quarterly earnings results and a new mid-term business plan on Nov. 12. A spokesperson said the results of Toshiba's strategic review would be part of the new business plan. Toshiba is under pressure from activist shareholders to conduct a review after it was found to have colluded with the Japanese government to put pressure on foreign investors.
(Bloomberg) -- A disputed meeting of Toshiba Corp. shareholders last year was held properly and a subsequent independent report supported by activist investor Effissimo Capital Management was misleading, said two former executives of the electronics conglomerate who were dropped from the board.Most Read from BloombergThe World’s Rich and Powerful Are Stashing $500 Billion in This Tax HavenWhat Comes After GE’s 129 Years of Greenhouse GasOut-of-Practice Airline Pilots Are Making Errors Back in th