Shares of Western Digital Corp. WDC were rising 4% in premarket trading Monday after Bloomberg News reported that the memory company was “progressing” in its merger talks with Kioxia Holdings Corp. The companies are discussing a spinoff of Western Digital’s flash business that would be merged with Kioxia and listed in the U.S., Bloomberg reported, citing multiple unnamed sources. Ultimately, the companies would be looking to do a dual listing in Japan. Bloomberg reported earlier in January that the companies had reignited their merger discussions. Western Digital didn’t immediately respond to a MarketWatch request for comment. The stock has gained 26% over the past month as the S&P 500 SPX has increased 3%.
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