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Barchart
Subhasree Kar

Western Digital Is Selling Sandisk Stock. Should You?

SanDisk Western Digital Sandisk Stock SNDK Memory Nasdaq Sandisk Corporation

In a move that captured attention, Western Digital Corporation (WDC) announced selling down its remaining equity stake in SanDisk Corporation (SNDK) , the flash memory powerhouse it spun off last year.

The company is executing a multi-billion-dollar secondary offering of SanDisk shares, involving a debt-for-equity swap with affiliates of J.P. Morgan and Bank of America. The transaction, which prices roughly 5.8 million shares at around $545 each for about $3.17 billion, is designed to accelerate deleveraging and sharpen Western Digital’s focus on its core hard-disk drive business.

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