Western Digital to buy SanDisk

Western Digital has announced it will acquire all the outstanding shares of SanDisk with a combination of cash and stock.

The offer values SanDisk common stock at $86.50 per share – a total equity value of approximately $19 billion.

Western Digital said the combination is the next step in the transformation of the company into a storage solutions company with global scale.

With the transaction, Western Digital will double its addressable market and expand its participation in higher-growth segments.

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Western Digital to buy SanDisk