Western Digital Announces Acquisition of SanDisk for $19 Billion

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Posted October 21, 2015 at 2:14pm by iClarified

Western Digital and SanDisk have announced an agreement under which Western Digital will acquire SanDisk for a combination of cash and stock. The offer values SanDisk common stock at $86.50 per share or a total equity value of approximately $19 billion, using a five-day volume weighted average price ending on October 20, 2015 of $79.60 per share of Western Digital common stock.

"This transformational acquisition aligns with our long-term strategy to be an innovative leader in the storage industry by providing compelling, high-quality products with leading technology," said Steve Milligan, chief executive officer, Western Digital. "The combined company will be ideally positioned to capture the growth opportunities created by the rapidly evolving storage industry. I'm excited to welcome the SanDisk team as we look to create additional value for all of our stakeholders, including our customers, shareholders and employees."

"Western Digital is globally recognized as a leading provider of storage solutions and has a 45-year legacy of developing and manufacturing cutting-edge solutions, making the company the ideal strategic partner for SanDisk," said Sanjay Mehrotra, president and chief executive officer, SanDisk. "Importantly, this combination also creates an even stronger partner for our customers. Joining forces with Western Digital will enable the combined company to offer the broadest portfolio of industry-leading, innovative storage solutions to customers across a wide range of markets and applications."

Steve Milligan will continue to serve as chief executive officer of the combined company, and the company will remain headquartered in Irvine, California. Upon closing, Sanjay Mehrotra is expected to join the Western Digital Board of Directors.

The transaction is subject to approval by SanDisk shareholders. It's expected to close in the third calendar quarter of 2016.

More details at the link below...

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Western Digital Announces Acquisition of SanDisk for $19 Billion

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The iDevice Pro - October 24, 2015 at 9:16pm

Two of the best together. Exciting!

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Ban the Trolls - October 21, 2015 at 3:02pm

Sandisk isn't an Israeli company. It's an American company with a branch in Israel along with others all over the world. An what's with the "antisemitic" Stuff? What's the difference about who owns it or where it's based? If it was a fully owned Israeli company what people are supposed to bow down to them because of it?

Imri - October 22, 2015 at 8:01am

You are right, i read in a newspaper here and noticed they said it was an Israeli company later on they apologized for their mistake, I was just in the middle of a comment fight trying to protect my country from all the wrong accusations and I was a little carried away when I wrote that, doesn't have to do with anything , thanks for replying so kindly in light of my ignorance :)