Western Digital Corp.’s talks to merge with Japanese chip maker Kioxia Holdings Corp. in a $20 billion-plus deal have stalled, according to people familiar with the matter.
The companies, which had been speaking since early this year, were working to finalize a stock deal that would have created a memory-chip powerhouse worth something on the order of $40 billion, The Wall Street Journal reported in August. Though the talks are on hold now, they could still be revived, some of the people said.