Western Digital to Raise $3.09 Billion in Sandisk Share Sale

Western Digital Corp. is seeking to raise $3.09 billion from the sale of a stake in Sandisk Corp., the flash-memory unit that it spun off nearly a full year ago.

The shares are being offered for $535 to $555 each, according to people familiar with the matter. That represents a discount of as much as 9.4% to Sandisk’s $590.59 share price at Tuesday’s close.