Deals
Unisplendour to Buy $3.8 Billion in Western Digital Stock
- Chinese IT firm to buy Western Digital stock at $92.50 a share
- Unis will hold 15% of data-storage company's shares after deal
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Chinese information-technology firm Tsinghua Unisplendour Corp. agreed to make a $3.8 billion equity investment in Western Digital Corp. through a subsidiary.
Unis will purchase Western Digital’s newly issued common stock at $92.50 a share, the companies said in a statement Wednesday. Following the investment, Unis will hold 15 percent of the Irvine, California-based data storage company’s issued and outstanding shares.