At the end of last year Western Digital announced it was buying SanDisk in a deal worth $19 billion, the deal has now been completed, although at a lower price of $16 billion.
The $16 billion deal is made up of cash at $67.50 per share and 0.2387 shares of common stock in Western Digital.
“Today is a significant day in the history of Western Digital,” said Steve Milligan, chief executive officer 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.”
You can find out more details about the SanDisk aquistsion over at Western Digital at the link below.
Source Western DigitalFiled Under: Top News