Western Digital (WDC) Has Proven M&A Track Record; Baird Maintains at 'Outperform' Amid SanDisk Deal
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UBS Upgrades Western Digital Corp. (WDC) to Neutral
October 22, 2015 8:24 AM EDTUBS upgraded Western Digital Corp. (NASDAQ: WDC) from Sell to Neutral with a price target of $75.00 (from $67.00) following the deal to acquire SanDisk.
Analyst John Roy commented, "WDC's planned purchase of SanDisk would seem to have potential US regulatory and Toshiba... More
Western Digital's (WDC) Price Target Trimmed at FBN
October 21, 2015 11:20 AM EDTFBN Securities maintained a Sector Perform rating on Western Digital Corp. (NASDAQ: WDC) and lowered its price target to $80.00 (from $90.00). Analyst Shebly Seyrafi noted increased integration challenges given its deal to acquire Sandisk (NASDAQ: SNDK).
"This morning,... More
Jefferies Reiterates Buy on Western Digital (WDC) on Possible Merger with Sandisk (SNDK)
October 21, 2015 8:43 AM EDTJefferies 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
Western Digital (WDC) to Acquire SanDisk (SNDK) in $19B Deal
October 21, 2015 7:31 AM EDTWestern Digital® Corporation (NASDAQ: WDC) and SanDisk Corporation (NASDAQ: SNDK) today announced that they have entered into a definitive agreement under which Western Digital will acquire all of the outstanding shares of SanDisk for a combination of cash and stock. The offer values SanDisk common stock at $86.50 per share or a total equity value of approximately $19 billion, using a five-day volume weighted average price ending on October 20, 2015 of $79.60 per share of Western Digital common stock. If the previously announced investment in Western Digital by Unisplendour Corporation Limited closes... More
