It's official: SanDisk Corporation is set to merge with Western Digital (WD).
SanDisk made the announcement at a meeting today that stockholders have approved the merger proposal with WD, with 98 per cent of the votes cast in favour of the merger.
In addition, WD stockholders have approved the proposal to issue additional shares of WD common stock in order to go ahead with the aquisition of SanDisk.
“We are pleased with our stockholders’ strong support of the merger proposal, reflecting the excellent value to be provided to SanDisk stockholders,” said Sanjay Mehrotra, president and chief executive officer of SanDisk.
“The combination of SanDisk with Western Digital will enable the combined company to offer the broadest portfolio of industry-leading, innovative storage solutions to customers across a wide range of markets and applications.”
The transaction has received regulatory approvals in the US, Europe, Singapore, Japan, Taiwan, South Korea, Turkey and South Africa. The transaction remains subject to other closing conditions per the merger agreement, including regulatory approval in China.
SanDisk continues to expect the company’s merger with Western Digital to close in Q2 2016.