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.
