Western Digital officially acquires SanDisk for $19 billion
Back in October 2015, Western Digital Corporation has announced that it will acquire SanDisk Corporation for $19 billion. Today it has announced that it as received approval from China’s Ministry of Commerce to complete the transaction.
“We are pleased to have received approval from MOFCOM, the final regulatory milestone for our combination with SanDisk,” said Steve Milligan, chief executive officer of Western Digital. “We look forward to closing the transaction and to integrating our two global businesses to create the leading storage solutions company.”
Back in March 15, 2016, Western Digital and SanDisk shareholders have voted to approve the said transaction. It has also received regulatory approvals in the U.S., E.U., Singapore, Japan, Taiwan, South Korea, South Africa and Turkey. The company expects the transaction to close on Thursday, May 12, 2016.
Western Digital’s acquisition of SanDisk allows the former to transform into a storage solutions company with deep expertise in non-volatile memory (NVM), integrate into NAND, and secure long-term access to solid state technology.
source: Western Digital