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Western Digital to Buy Flash Memory Provider SanDisk for $19 Billion


With backing from Chinese tech group Unisplendour, Western Digital (WDC - Get Report) said Wednesday that it would pay $19 billion to purchase flash storage company SanDisk (SNDK - Get Report) , reports The Deal's Chris Nolter.

The payout comes to $86.50 per share in cash and stock, with the composition of the bid dependent upon Western Digital closing a nearly $3.8 billion equity investment from Unisplendour. If Western Digital collects that investment, the Irvine, Calif., memory company will pay $85.10 per share in cash and 0.0176 shares of its common stock per share of SanDisk. If the Unisplendour investment does not close, the composition will be $67.50 in cash plus 0.2387 shares of Western Digital stock per SanDisk...