Western Digital plans to spin off flash memory business in second half of 2024

Western Digital acquired SanDisk in a cash and stock transaction in 2015, with the transaction value reaching US$19 billion. However, now Western Digital has announced a completely opposite decision, planning to spin off its flash memory business and establish an independent company

## In a press release, Western Digital stated:

After completing the strategic assessment, Western Digital, after comprehensively considering various options, believes that in order to realize its maximum value, the best and The most viable option is to spin off its flash memory business. To this end, Western Digital believes that the timing is favorable to implement an independent separation strategy to create value for shareholders as industry conditions improve.

Western Digital CEO David Goeckeler said in a press release that the company has established independent flash memory and hard drive product business units and separated operating capabilities over the past few years. He believes that this new plan will further position each company for long-term success in the coming years

This site noted that Western Digital plans to spin off its flash memory and HDD businesses. The plan still requires board approval and is subject to other conditions, such as the feasibility of financing and a way to implement a tax-free separation structure. The divestiture plan is expected to be implemented in the second half of 2024. Previously, Western Digital recently held merger talks with another flash memory company, Japan's Kioxia. However, those talks stalled last week after SK Hynix, one of Kioxia's investors, expressed opposition to the merger, according to Reuters. Western Digital made no mention of deal talks with Kioxia in today's press release or financial call. .

Advertising statement: The external jump links (including but not limited to hyperlinks, QR codes, passwords, etc.) contained in the article are used to convey more information and save selection time. The results are for reference only. All articles on the site contain this statement.

The above is the detailed content of Western Digital plans to spin off flash memory business in second half of 2024. For more information, please follow other related articles on the PHP Chinese website!