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SanDisk announces regulatory approval for acquisition by Western Digital

SanDisk announces regulatory approval for acquisition by Western Digital

SanDisk announces regulatory approval for acquisition by Western Digital

SanDisk announces regulatory approval for acquisition by Western Digital

 

SanDisk has announced the they have received regulatory approval for Acquisition by Western Digital, with means that both companies should soon merge into a single storage powerhouse. 

Western Digital back in October of last year has already purchased Sandisk for $19 Billion, which at the time equated to around $86.50 per share, which was around 15% higher than Sandisk's share value at the time. This had made Sandisk a wholly owned subsidiary of Wester Digital

The Ministry of Commerce of China (MOFCOM) has now given Sandisk their approval to be acquired and merge with Western Digital. Below is a quote from Sandisk's President and CEO Sanjay Mehrotra. 

 

  We are pleased that the final regulatory approval has been received and we can now proceed with the planned combination with Western Digital  

SanDisk announces regulatory approval for acquisition by Western Digital

 

A merger between these two companies opens up a lot of possibilities for both companies when moving into the future, given Western Digital's reputation in the hard drive market and Sandisk's memory/flash chip production. 

This acquisition will allow both companies to work together in order to bring about a whole range of new products in the future, from traditional HDD and NAND based storage to hybrid and other future storage mediums. 

 

You can join the discussion on Sandisk's merger with Western Digital on the OC3D Forums.

 

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