Unisplendour to Buy $3.8 Billion in Western Digital Stockby
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.