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Unisplendour to Buy 15% Stake in Western Digital, Get Board Seat

A Unisplendour unit will invest $3.775 billion in Western Digital, purchasing newly issued stock of the California-based Western Digital at a price of $92.50 per share—a sharp premium to the company’s closing price of $68.87 on Tuesday.

Shares of Western Digital jumped 9.3% to $75.26 in premarket trading on Wednesday.

Under the agreement, Unisplendour will be...