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Western Digital Plans $3.17B Sale of Sandisk Shares

Western Digital Plans $3.17B Sale of Sandisk Shares

Post by : Bianca Haleem

Western Digital, the hard disk drive maker, announced it will raise $3.17 billion by selling a portion of its stake in former unit Sandisk. The shares will be offered in a secondary sale at a 7.7% discount to the last closing price.

The company plans to swap 5.8 million Sandisk shares for debt held by affiliates of J.P. Morgan and BofA Securities, who will also manage the sale as lead bookrunners.

After the transaction, Western Digital will retain nearly $1 billion worth of Sandisk shares, which it intends to sell in the future. Sandisk shares dropped about 2.13% in after-market trading on Tuesday following the announcement.

This strategic move allows Western Digital to unlock cash while gradually reducing its Sandisk holdings, strengthening its financial flexibility.

 

Feb. 18, 2026 4:21 p.m. 1582
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