Western Digital (WDC) Comments on Letter from Elliott Management
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May 3, 2022 11:28 AM EDT
SAN JOSE, Calif.--(BUSINESS WIRE)--
Western Digital Corp. (Western Digital) (NASDAQ: WDC) today issued the following statement regarding a letter sent by Elliott Management to Western Digitals Board of Directors:
Western Digital maintains an ongoing dialogue with our shareholders and values constructive input on our business. We agree that Western Digital is an excellent, yet undervalued, company with strong positions in our flash and HDD businesses and look forward to engaging with Elliott to discuss their views. Our Board of Directors is committed to acting in the best interests of all our... More
May 3, 2022 7:43 AM EDT
Calls for Full Strategic Review, Separation of Flash Business
Sees $100+ per Share by 2023, ~100% Potential Upside
Offers $1+ Billion of Incremental Equity Capital to Facilitate Separation
Full Letter Available at ElliottLetters.com/WesternDigital
WEST PALM BEACH, Fla.,... More
