Wednesday, September 30, 2015
Western Digital Gets Massive, $3.775 Billion Equity Injection From Chinese Firm
Irvine-based disk drive and storage maker Western Digital Corporation has received a massive, $3.775 billion equity investment from Chinese company Unisplendour Corporation Limited, which will give Unisplendour a 15 percent stake in the company. According to Western Digital, Unispendour (Unis) will purchase newly issued Western Digital common stock at a price of $92.50 per share for the stake. Unis gets a position on Western Digital's board of directors with the investment. Beijing-based Unisplendour is a distributor of optical storage, personal computers, wireless, and other electronics products in China.