Transaction Expected to Close Thursday, May 12, 2016
The Ministry of Commerce of China (“MOFCOM”) has approved the acquisition of SanDisk by Western Digital Technologies, Inc., a wholly-owned subsidiary of Western Digital Corporation (NASDAQ: WDC), SanDisk Corporation (NASDAQ: SNDK) announced today.
This paves the way for the storage manufacturer to become even larger this Thursday when the transaction is expected to be completed. The deal is worth approximately $19 billion, and was originally announced in October of 2015.
Seagate and Western Digital are two of the largest hard drive manufacturers. SanDisk is currently the third-largest producer of NAND flash in the world, behind Toshiba and industry leader Samsung.