Wedbush Upgrades STEC, Inc. (STEC) to Neutral
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Western Digital (WDC) to Acquire sTec (STEC) in $340M Deal
June 24, 2013 8:02 AM EDTWestern Digital Corporation (NASDAQ: WDC) and sTec, Inc. (NASDAQ: STEC) announced today that they have entered into a definitive merger agreement under which sTec, Inc., an early innovator in enterprise solid-state drives (SSDs), will be acquired by HGST, a wholly-owned subsidiary of Western Digital. sTec will be acquired for approximately $340 million in cash, which equates to $6.85 per share. This represents approximately $207 million... More
