Bain in talks with SK Hynix to restart Western Digital-Kioxia merger talks, Kyodo reports
Technology
Bain in talks with SK Hynix to restart Western Digital-Kioxia merger talks, Kyodo reports
TOKYO (Reuters) - Bain Capital is in talks with SK Hynix (000660.KS), opens new tab to restart negotiations to merge memory chip makers Western Digital (WDC.O), opens new tab and Japan's Kioxia Holdings, Kyodo newswire reported on Saturday, citing unidentified sources.
The South Korean chip maker is a rival to both companies and is also an investor in Kioxia.
The merger talks, which have continued on and off since 2021, stalled in October because SK Hynix opposed the deal, citing the potential impact on the value of its investment in the Japanese company.
SK Hynix invested 395 billion yen ($2.67 billion)in Kioxia in 2018 as a member of a Bain-led consortium that bought the Japanese firm from Toshiba Corp, It holds bonds that can be converted into an equity stake of up to 15% and its approval was one of the preconditions for the merger.
