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SK Hynix's refusal to approve the merger of Kioxia and Western Digital is a setback for Bain Capital's plans to create a US-Japan chip company. Sources reveal that SK Hynix declined the merger, which would have combined Kioxia and Western Digital. The move comes as Kioxia seeks investments to support the merger, with reports suggesting that it has approached Japan Investment Corp. for a potential deal announcement this month. SK Hynix has denied reports of approaching SoftBank for the merger. The developments highlight the challenges faced by companies in the VC and technology sectors as they navigate complex mergers and investments.
Kioxia has reached out to JIC to invest in merger with Western Digital - Bloomberg News https://t.co/f0qtvmjotL https://t.co/LKAgfd6kBo
Kioxia has approached Japan Investment Corp. about making an investment to support its merger with Western Digital, seeking to announce a deal as soon as this month https://t.co/cSTL7pIGCj
Kioxia has approached Japan Investment Corp. about making an investment to support its merger with Western Digital, seeking to announce a deal as soon as this month https://t.co/rlnBBNlHCC
CVC is looking at Nexi but not preparing an offer - source close to CVC https://t.co/W2PV4kr53Y https://t.co/Y8bduhXR6D
SK Hynix denies report about approaching SoftBank on Kioxia merger https://t.co/ITswIKYjC2 https://t.co/4vG1IEp9s3
Sources: SK Hynix refused to approve the merger of Kioxia and Western Digital, a blow to Bain Capital's ambitions of creating a US-Japan chip company (Financial Times) https://t.co/D2iAvfsfaa 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/VL1lcKz44Y