Wednesday, September 30, 2015

Western Digital Gets Massive, $3.775 Billion Equity Injection From Chinese Firm

Irvine-based disk drive and storage maker Western Digital Corporation has received a massive, $3.775 billion equity investment from Chinese company Unisplendour Corporation Limited, which will give Unisplendour a 15 percent stake in the company. According to Western Digital, Unispendour (Unis) will purchase newly issued Western Digital common stock at a price of $92.50 per share for the stake. Unis gets a position on Western Digital's board of directors with the investment. Beijing-based Unisplendour is a distributor of optical storage, personal computers, wireless, and other electronics products in China.

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