Western Digital acquires SanDisk for $16 Billion. Western Digital Corporation announced that it has completed the acquisition of SanDisk Corporation. SanDisk is now a wholly-owned subsidiary of Western Digital Technologies, Inc. The deal was worth USD $16 billion.
Under the terms of the transaction, each outstanding share of SanDisk common stock was converted into the right to receive $67.50 per share in cash and 0.2387 shares of Western Digital common stock.
“Today is a significant day in the history of Western Digital,” said Steve Milligan, CEO of Western Digital. “We are delighted to welcome SanDisk into the Western Digital family. This transformational combination creates a media-agnostic leader in storage technology with a robust portfolio of products and solutions that will address a wide range of applications in almost all of the world’s computing and mobile devices. We are excited to now begin focusing on the many opportunities before us, from leading innovation to bringing the best of what we can offer as a combined company to our customers. In addition, we will begin the work to fully realize the value of this combination through executing on our synergies, generating significant cash flow, as well as rapidly deleveraging our balance sheet, and creating significant long-term value for our shareholders.”
Source: StorageNews
