Hard disk manufacturer western data acquired storage chip manufacturer Sandi for us $19 billion
On the evening of October 21, Beijing time, Western Digital, a hard disk manufacturer, announced today that it would purchase SanDisk, a memory chip manufacturer, for about $19 billion.
Western data will acquire SanDisk in cash and stock of $86.50 per share, with a total value of about $19 billion. The offer is 15% higher than SanDisk's closing price on Tuesday.
Affected by the news, SanDisk shares rose 6.4% to $80 in pre market trading today, while western data shares fell 1.1% to $74.
SanDisk contacted western data and Meguiar about the sale last week, the report said. Later, Meguiar withdrew from the negotiations, while western data held separate negotiations with SanDisk.
SanDisk is one of the world's largest flash manufacturers. Flash memory chips are used in the storage system of mobile devices, and are more and more used by computers and data centers. The deal is expected to close in the third quarter of 2016.
At the end of September, Ziguang group announced that it would invest 3.8 billion US dollars (about 24 billion yuan) to acquire western data shares. After the completion of the transaction, Ziguang group will become the largest shareholder of Western data. (Li Ming)
Western Digital Corp is a world-famous hard disk manufacturer, founded in 1970. It is headquartered in California, USA. It has branches or offices around the world to provide storage products for users on five continents. For a long time, WD has been committed to providing perfect storage solutions for global PC users. As a pioneer and long-term leader in the global memory industry, WD has rich service experience in providing users and organizations collecting, managing and using digital information, as well as good reputation, especially in the European and American markets. Western data used to be the world's largest hard disk manufacturer, but later it was surpassed by Seagate, resulting in western data becoming the world's second largest hard disk manufacturer, but the hard disk products of Western data are still widely praised in the world!