Western Digital gets $900 million investment from Apollo, Elliott

NEW YORK : Memory chip maker Western Digital Corp said on Tuesday it will receive $900 million through a convertible preferred stock deal from private equity firm Apollo Global Management Inc and hedge fund Elliott Management Corp.

Last year, Western Digital launched a review of strategic alternatives, including options for splitting off its flash-memory and hard-drive businesses, after activist Elliott disclosed a stake of nearly $1 billion in the company and pushed it to separate those businesses. "We look forward to working together in advancing our goal of creating value and finalizing the best possible strategic outcome for our shareholders," said Goeckeler.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Russian business offers cash bounties to destroy Western tanks in UkraineA Russian company said it will offer five million roubles (US$72,000) in cash to the first soldiers who destroy or capture western-made tanks in Ukraine, after the Kremlin vowed Russian forces would wipe out any Western tanks shipped to Ukraine. The United States, Germany and several other European countri Génial! J'espère qu'ils pourront les détruire avant même qu'ils touchent le sol. Un chars leclerc vaut 10 fois moins cher qu un tank allemand ou américain ?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »