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Western Digital completes acquisition of SanDisk

By Ciara Alarcon - on 13 May 2016, 3:25pm

Western Digital completes acquisition of SanDisk


Western Digital Technologies, Inc. has completed the acquisition of SanDisk Corporation.

The addition of SanDisk makes Western Digital Corporation a comprehensive storage solutions provider with global reach, and an extensive product and technology platform. It also includes deep expertise in both rotating magnetic storage and non-volatile memory.

The Company also indicated that the debt financing associated with this transaction has been completed and that the previously acquired funds from this financing have been released from escrow to Western Digital Technologies, Inc.

The integration process will start immediately through the joint efforts of teams from both companies.

However, Steve Milligan will continue to serve as chief executive officer of Western Digital. And, Sanjay Mehrotra, co-founder, president and chief executive officer of SanDisk, will serve as a member of the Western Digital Board of Directors, effective immediately.

According to 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.

Source: Western Digital