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

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.

Unis will also be able to nominate one representative to the Western Digital board, under the agreement.

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