Western Digital to sell $3.17 billion stake in Sandisk

Sandisk Corporation +0.47%
Western Digital Corporation -2.05%

Sandisk Corporation

SNDK

895.96

+0.47%

Western Digital Corporation

WDC

357.52

-2.05%

Feb 18 (Reuters) - Flash memory maker Sandisk SNDK.O on Wednesday said that Western Digital WDC.O will sell a stake worth $3.17 billion in the company.

Western Digital, which makes hard disk drives, will sell over 5.8 million shares of Sandisk at $545 each, Sandisk said.

The offering is at a discount of about 7.7% to Sandisk's last close of $590.59 on Tuesday.


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