Western Digital Buys SanDisk For $19 Billion

Irvine-based Western Digital announced this morning that it has acquired SanDisk Corporation, the maker of NAND flash memory, in a deal wort $19 billion. Western Digital said it would pay $86.50 per share for SanDisk, split between $85.10 per share in cash and 0.0176 shares of Western Digital common stock for every share of SanDisk. Western Digital said the deal will help it secure a stable supply of NAND memory, at lower cost. NAND memory is the basis for flash disk storage, which has been one of the fastest growing parts of the data storage business.