SK Hynix opposes merger between Kioxia, Western Digital, FT reports

SK Hynix, a South Korean chipmaker, has said it opposes the proposed acquisition between Kioxia and Western Digital, Christian Davies, Song Jung-a, and Kana Inagaki of The Financial Times report. Back in 2018, SK Hynix invested $3.5B in the Bain Capital-led consortium that acquired Kioxia, so a merger between Kioxia and Western Digital cannot proceed without SK Hynix’s approval. “We are not agreeing to the merger at this time in light of the impact on our investment asset value,” the company’s chief financial officer Kim Woo-hyun said, according to the Times.