Western Digital is about to get a whole lot bigger as the Business Wire is reporting that the Ministry of Commerce of China has approved WD’s acquisition of SanDisk.
News of SanDisk being acquired by Western Digital for USD19 billion first began in October of last year. With all necessary regulatory approvals for the acquisitions having been received, the transaction is expected to close tomorrow. SanDisk stockholders would then approve said transaction at a special meeting of stockholders which will be held on Sunday.
“We are pleased that the final regulatory approval has been received and we can now proceed with the planned combination with Western Digital. We thank our stakeholders for their support of this transaction and look forward to contributing to the success of Western Digital as it transforms into the leading storage solutions company,” says Sanjay Mehrotra, President and Chief Executive Officer of SanDisk.
Once the deals have been signed, Western Digital will acquire SanDisk’s flash memory cards, USB sticks, as well as its SSD market.
Source: Business Wire