Western Digital has announced the acquisition of Hitachi Global Storage Technologies, Hitachi's subsidiary specializing in the manufacture of hard disks. The American manufacturer will put nearly $ 4.3 billion on the table to finalize the transaction, including 3.5 billion in cash and $ 750 million in shares (or 25 million shares at 30.01 dollars).
Ultimately, Hitachi should hold almost 10% of the capital of Western Digital, while two representatives from Hitachi will sit on the board of WDC. The transaction, already approved by the boards of both companies must still be approved by regulatory authorities. The purchase, expected to be finalized during the third quarter of 2011, will enable Western Digital to confirm its position as world leader in the HDD market.
Remains to be seen what the consequences of such redemption to the end consumer ... 
Ultimately, Hitachi should hold almost 10% of the capital of Western Digital, while two representatives from Hitachi will sit on the board of WDC. The transaction, already approved by the boards of both companies must still be approved by regulatory authorities. The purchase, expected to be finalized during the third quarter of 2011, will enable Western Digital to confirm its position as world leader in the HDD market.
Remains to be seen what the consequences of such redemption to the end consumer ...
- Western Digital buys Hitachi unit for $4.3 billion (07/03/2011)
- Western Digital buying Hitachi unit for $4.3B (07/03/2011)
- Western Digital Agrees to Buy Hitachi Unit for $4.3 Billion (07/03/2011)
- Western Digital acquires Hitachi's hard drive business (07/03/2011)
- Western Digital drops $4.3 billion to acquire Hitachi GST, enter staring contest with Seagate (07/03/2011)
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