The announcement the two companies through two separate notes, which states that the transactions have received all the necessary approvals and are now finalized. By acquiring Western Digital can now achieve in a more widespread across all market segments related to the storage world, with a technology platform that covers the majority of the possible solutions.
"Today is an important day for Western Digital," said Steve Milligan, the company's CEO. "We are pleased to welcome to the SanDisk family. This combination creates a leader in storage technology with a robust portfolio of products and solutions that will reach a wide range of applications in almost all categories of the mobile and computing devices. We are thrilled to we can now devote to the many opportunities that we face. "
"We'll also begin work to realize the value of this combination through the exploitation of our synergies, generating significant cash flow, reducing the indebtedness of our balance sheet and creating a significant long-term value for our shareholders." As for the mixed up there will not be big news, with Steve Milligan will continue to serve the company as CEO.
Western Digital will continue to be based in Irvine, California, while the co-founder, president and CEO of SanDisk, Sanjay Mehrotra, will be part of the company's Board of Directors.
"As the only company we will be better positioned to respond to requests for data storage, which are growing exponentially from year to year devices," said Mehrotra commenting on the sale of SanDisk. "The growth and innovation go hand in hand, and we could not be happier to grow and innovate with Western Digital. I am looking forward to contribute in the realization of the potential of the combination as a board member."
Under the terms of the transaction each outstanding share of SanDisk common stock has been converted into the right to receive $ 67.50 per share in cash and 0.2387 shares of Western Digital for action.
"Today is an important day for Western Digital," said Steve Milligan, the company's CEO. "We are pleased to welcome to the SanDisk family. This combination creates a leader in storage technology with a robust portfolio of products and solutions that will reach a wide range of applications in almost all categories of the mobile and computing devices. We are thrilled to we can now devote to the many opportunities that we face. "
"We'll also begin work to realize the value of this combination through the exploitation of our synergies, generating significant cash flow, reducing the indebtedness of our balance sheet and creating a significant long-term value for our shareholders." As for the mixed up there will not be big news, with Steve Milligan will continue to serve the company as CEO.
Western Digital will continue to be based in Irvine, California, while the co-founder, president and CEO of SanDisk, Sanjay Mehrotra, will be part of the company's Board of Directors.
"As the only company we will be better positioned to respond to requests for data storage, which are growing exponentially from year to year devices," said Mehrotra commenting on the sale of SanDisk. "The growth and innovation go hand in hand, and we could not be happier to grow and innovate with Western Digital. I am looking forward to contribute in the realization of the potential of the combination as a board member."
Under the terms of the transaction each outstanding share of SanDisk common stock has been converted into the right to receive $ 67.50 per share in cash and 0.2387 shares of Western Digital for action.
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