Skip to content
Subscriber Only

Hitachi Advances on $4.3 Billion Sale to Western Digital

Hitachi Ltd., Japan’s second-largest manufacturer by revenue, climbed to a two-year high in Tokyo trading after agreeing to sell its hard-disk drive unit to Western Digital Corp. for about $4.3 billion.

The shares advanced 1.8 percent to 514 yen, the highest close since November 2008. The Japanese industrial group plans to sell Hitachi Global Storage Technologies for about $3.5 billion in cash and 25 million shares of Western Digital, the companies said yesterday.