The latest announcement from the SanDisk Corporation says that the Ministry of Commerce of China (MOFCOM) has approved the acquisition of SanDisk Corporation by Western Digital Technologies Inc., SanDisk will be wholly owned subsidiary of the WD Inc.
Both the companies are headquartered in California and performing the operations from the decades.The transaction happened between the word’s largest storage manufacturer and third leading flash memory manufacturer in the world. WD has acquired the Sandisk with $19 Billion and the per each share worth up to $86.90.
The complete Process of the Acquisition will be expected to finish on May 12th, 2016.The company has completed all the approvals which are required for the acquisition have been received and all the transactions are going to end on Thursday. The stakeholders of the SanDisk have voted for the approval of operations at the special meeting held in the last month.
Sanjay Mehrotra, president and chief executive officer, SanDisk said “We are pleased that the final regulatory approval has been received and we can now proceed with the planned combination with Western Digital,” And he thanked their stakeholders for the support of this transaction and looking forward to contributing to the success of Western Digital in transforming into the leading storage solutions company.
Western Digital supplies the hard drives and SSDs for use inside things for the PCs, laptops, and servers. WD also sells the external drives in the market across the world. WD is aiming their affection in SanDisk, which is one of the largest manufacturer of the flash memory in the worldwide. SanDisk is most widely known for their USB drives and Memory card business.
The expected things to be done and finished by the third quarter of the next year says Western Digital.