Western Digital Corporation Announces Decision From China's Ministry of Commerce Enabling Integration Of Substantial Portions Of HGST And WD Subsidiaries
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Go back to Western Digital Corporation Announces Decision From China's Ministry of Commerce Enabling Integration Of Substantial Portions Of HGST And WD Subsidiaries
October 21, 2015 8:43 AM EDT
Jefferies reiterated a Buy rating on Western Digital Corp. (NASDAQ: WDC), and cut the price target to $111.00 (from $116.00), ahead of possible merger with Sandisk (NASDAQ: SNDK). Bloomberg has reported that WDC may acquire SNDK for... More
October 19, 2015 9:12 AM EDT
Western Digital (NASDAQ: WDC) gained Monday after announcing a decision from China's Ministry of Commerce enabling the company to integrate substantial portions of its HGST and WD subsidiaries under Western Digital Corporation. Integration activities will begin immediately and are expected to continue over the next 24 month.
Commenting on the news, analyst Aaron C. Rakers of Stifel said, "WD reiterated an expectation for approximately $400M in annual opex savings with additional significant COGS... More
October 19, 2015 6:08 AM EDT
Western Digital (NASDAQ: WDC) announced a decision from China's Ministry of Commerce ("MOFCOM"), which enables the company to integrate substantial portions of its HGST and WD subsidiaries under Western Digital Corporation ("Western Digital"). As a unified entity, Western Digital's extensive technology capability, deepened patent and product portfolios, and talented global team will further drive its ability to innovate and lead in the changing data storage industry.
The agency's decision is the result of an ongoing dialogue regarding the "hold separate" restriction associated with Western Digital's acquisition of HGST in March 2012. As... More
