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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
WDC 55.41-2.0%Oct 15 4:00 PM EDT

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From: Sam4/1/2021 7:07:06 PM
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When It Comes To Any Deal, '$30B For Kioxia Is Rich' Says Wedbush -- Market Talk
Dow Jones Newswires April 01, 2021 03:55:00 PM ET

1555 ET - Wedbush sees the potential purchase of NAND chipmaker Kioxia as a possible near-term negative for Micron, despite positive industry implications of consolidation. WSJ reports that Micron and Western Digital are each separately exploring a possible deal for Kioxia--the former Toshiba memory business--that could value the Japanese company at around $30B. "We believe $30B for Kioxia is rich," says Wedbush, "and could prove to be a distraction particularly given some uncertainty, in our view, as to whether China would approve any such combination."Wedbush adds that while a Kioxia deal would make strategic sense for Western Digital, "we struggle to see how such a deal would be constructed in light of WD's current debt load and relative market cap." ( maria.armental@wsj.com ; @mjarmental)
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