Western Digital to buy SanDisk in $19 bln deal

21 Oct 2015 | Author: | No comments yet »

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of SanDisk of Commencement of an Investigation Concerning the Fairness of the Sale of the Company to Western Digital Corp. — SNDK.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of SanDisk Corporation to Western Digital Corporation (nasdaqgs:WDC). Western Digital, a maker of hard drives for businesses and personal computers, is buying SanDisk in a cash-and-stock deal worth about $19 billion as it looks to extend its reach in the storage industry.

If the previously announced investment in Western Digital by Unisplendour Corporation Limited closes prior to the completion of this acquisition, SanDisk shareholders will receive $85.10 in cash and 0.0176 shares of Western Digital common stock for each share of SanDisk stock they own; if the Unisplendour deal has not closed or is terminated, SanDisk shareholders will instead receive $67.50 in cash and 0.2387 shares of Western Digital stock for each SanDisk share they own. Western Digital and flash-memory chip maker SanDisk said that they have complementary product lines, including hard disk drives, solid-state drives, cloud datacenter storage solutions and flash storage solutions. “The combined company will be ideally positioned to capture the growth opportunities created by the rapidly evolving storage industry,” Western Digital CEO Steve Milligan said in a written statement. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. Pending the closing of the transaction, Western Digital expects to continue paying its quarterly dividend and plans to suspend its stock buyback program.

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