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Western Digital to buy SanDisk in $19 billion deal

Staff writer ▼ | October 21, 2015
Western Digital Corporation will acquire all of the outstanding shares of SanDisk for a combination of cash and stock. The offer values SanDisk Corporation common stock at $86.50 per share or a total equity value of approximately $19 billion.
Acquisition   $79.6 per share of Western Digital
The transaction will be made using a five-day volume weighted average price ending on October 20, 2015 of $79.6 per share of Western Digital common stock.

If the previously announced investment in Western Digital by Unisplendour Corporation Limited closes prior to this acquisition, Western Digital will pay $85.10 per share in cash and 0.0176 shares of Western Digital common stock per share of SanDisk common stock; and if the Unisplendour transaction has not closed or has been terminated, $67.50 in cash and 0.2387 shares of Western Digital common stock per share of SanDisk common stock.

The transaction has been approved by the boards of directors of both companies.

The combination is the next step in the transformation of Western Digital into a storage solutions company with global scale, extensive product and technology assets, and deep expertise in non-volatile memory (NVM).

With this transaction, Western Digital will double its addressable market and expand its participation in higher-growth segments. SanDisk brings a 27-year history of innovation and expertise in NVM, systems solutions and manufacturing.

The combination also enables Western Digital to vertically integrate into NAND, securing long-term access to solid state technology at lower cost.