Feb. 2, 2023 /SemiMedia/ --Western Digital recently announced that it will receive a $900 million investment led by Apollo Global Management, and Elliott Investment Management also participated in the investment.
According to industry insiders, this investment is a precursor to the merger between Western Digital and Kioxia. It is expected that Western Digital's hard disk business will remain independent after the merger, but details may change.
According to previous reports, the two parties have finalized a rough transaction structure, Western Digital will spin off the flash memory business and merge with Kioxia to form an American company.
Western Digital CEO David Goeckeler said that Apollo and Elliott will help Western Digital conduct the next phase of its strategic assessment.
