Western Digital To Aquire SanDisk For $19 Billion
Western Digital simply purchased a bunch of reminiscence playing cards. The storage big simply introduced that it has agreed to purchase SanDisk Corp for about $19 billion. This comes after hypothesis that SanDisk was looking for a purchaser.
The deal values SanDisk at $86.50 a share, which is a 15% premium on the day gone by’s closing worth, giving the corporate a worth of $15.four billion. SanDisk is at present up four.seventy eight% in pre-market buying and selling.
This deal brings collectively two of the most important storage corporations. In some ways, SanDisk, with its deep funding in flash reminiscence chips represents a future with out the spinning disk arduous drives of Western Digital. But regardless of early explosive progress, SanDisk as of late reported outcomes which have lagged behind expectations. Likewise, Western Digital has watched its core enterprise slip away because the business strikes in the direction of flash reminiscence.
SanDisk CEO Sanjay Mehrotra is predicted to hitch the Western Digital board upon the closing of the deal. Western Digital CEO Steve Milligan will proceed in that position.