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Japanese Banks to Provide $13 Billion for Kioxia and Western Digital Merger, Reports Bloomberg

You can spot KIOXIA devices at COMPUTEX Taipei, a big tech trade show in Taipei, Taiwan, on May 24, 2022. This photo is from REUTERS/Ann and it’s about getting permission to use the picture.

Four Japanese banks, including Sumitomo Mitsui Banking Corp, are considering the provision of up to 2 trillion yen (approximately $13.5 billion) in loans. Their aim is to support the merger between Kioxia Holdings and Western Digital Corp (WDC.O). This news was reported by Bloomberg on Wednesday, September 20th, in Tokyo.

In May, Kioxia and Western Digital, two companies that make computer chips, decided to have their merger discussions move faster, as reported by Reuters.

Sumitomo Mitsui, Mizuho Bank, and MUFG Bank are thinking about lending a total of 1.3 trillion yen, and the Development Bank of Japan might offer 300 billion yen. This information comes from unnamed sources cited by Bloomberg.

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