Western Digital shooting to reach Kioxia merger deal by August, Bloomberg says

Western Digital and Kioxia, which have spent months in talks, aim to reach an agreement on a merger by August, people familiar with the matter told Bloomberg’s Liana Baker. The deal would be structured as a tax-free spinoff of Western Digital’s flash business, which would merge with Kioxia. Western Digital shareholders would own slightly more than 50% of the combined company, which would be domiciled in Japan, trade on the Nasdaq initially and eventually list in Tokyo, according to the report.