Micron Technology and Western Digital (each separately) are exploring a possible deal with Kioxia Holdings. Reuters reported this concerning the Wall Street Journal, which in turn received information from “people familiar with the issue.”

Private equity firm Bain Capital now controls Kioxia. The deal’s structure, estimated at $ 30 billion, has not yet been disclosed, but it is argued that the deal could be concluded this spring.

Kioxia is the second-largest manufacturer of flash memory chips in the world. Last year, she planned to conduct an initial public offering (IPO), the largest in Japan in 2020, but that plan has been delayed.

According to the WSJ, the IPO could still occur later this year if Kioxia fails to close a deal with one of the bidders.

Micron declined to comment, and Western Digital and Kioxia have yet to respond to Reuters inquiries.

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