# Micron, Western Digital explore deals to buy Japanese chip maker Kioxia

Micron, Western Digital explore deals to buy Japanese chip maker Kioxia

Micron Technology Inc.
 and Western Digital Corp.
 are each exploring a potential deal for Kioxia Holdings Corp. that could value the Japanese semiconductor company at around $30 billion, according to people familiar with the matter, as a global scramble for memory chips used in smartphones and other devices heats up.

A deal for Kioxia , controlled by private-equity firm Bain Capital, isn’t guaranteed, and it isn’t clear how one might be structured. Should a deal come together, it could be finalized later this spring, some of the people said.

Also see: Micron defends ‘disciplined’ capital spending amid chip shortage

The Tokyo-based company had been planning an initial public offering before shelving it in late September, citing the coronavirus pandemic and market volatility. An IPO later this year is still a possibility should the company fail to reach agreement on a deal with one of the suitors, the people said.

Kioxia, formerly part of Toshiba Corp. and known as Toshiba Memory, was purchased in 2018 by a group led by Bain that included Apple Inc. 
 Dell Technologies Inc.
 , Kingston Technology Co. and Seagate Technology PLC
 in a deal worth around $18 billion. Toshiba Corp.
retained a 40% stake in the business, which was renamed Kioxia the following year.

An expanded version of this report appears on

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