From Breakingviews: Western Digital has revived talks with Japan's Kioxia after efforts for a $20 billion deal stalled in 2021. The duo will have to be creative to convince politicians fretting about chip wars, says mak_robyn
on Thursday. Price wars are plaguing sales of semiconductors storing data and consolidation can help as demand plunges. The duo will have to be creative to convince politicians fretting about chips wars.
Yet even if the logic for a combination looks more compelling against this backdrop, the M&A hurdles Western Digital faced in 2021 are even more challenging today. Valuation will be a sticking point: reviving a mooted $20 billion all-stock merger looks unlikely, given the U.S. firm's share price has more than halved over the past two years.
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