A deal, with either of the two suitors, is yet to be finalised
Micron Technology Inc and Western Digital Corp are each looking at the prospect of a potential deal with Japanese semiconductor firm Kioxia Holding Corp, which could possibly result in the firm valuing around $30 billion, according to a recent report by Wall Street Journal.
While a deal for Kioxia, which is controlled by private-equity firm Bain Capital, is yet to be confirmed, if any of the two parties do end up striking a deal, it could be finalised later this spring.
Kioxia had been planning an initial public offering (IPO) last year, but with the onset coronavirus pandemic and market volatility, it was done away with in September.
However, if the firm fails to reach a conclusive deal with any of the potential companies, the IPO could be set up for this year.
Notably, this new development comes at a time when manufacturers in the tech industry all over the world are facing a chip and components shortage crisis, affecting the entirety of the supply chain.