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@ 2011/03/08Western Digital is one of the largest firms in the traditional hard drive manufacturing realm. Other notable companies in the HDD market include Hitachi GST and Seagate. Western Digital has announced that it has entered into an agreement to purchase Hitachi GST and combine its operations.
The deal was announced today and will cost WD about $4.3 billion. The transaction will be paid with $3.5 billion in cash and 25 million WD common shares valued at about $750 million. Hitachi will also get to place two representatives on the WD board of directors. The stock will mean that Hitachi Ltd will own about 10% of all outstanding WD stock.
The deal was announced today and will cost WD about $4.3 billion. The transaction will be paid with $3.5 billion in cash and 25 million WD common shares valued at about $750 million. Hitachi will also get to place two representatives on the WD board of directors. The stock will mean that Hitachi Ltd will own about 10% of all outstanding WD stock.
