Western Digital: Unis Union Terminates Investment Agreement - Quick Facts

(RTTNews) - Western Digital Corp. (WDC) announced the company, Unisplendour Corp. or Unis, and Unis Union: a subsidiary of Unis, have been notified by the Committee on Foreign Investment in the U.S. or CFIUS that it is undertaking an investigation of the proposed Unis Union investment. As a result, Unis Union has informed Western Digital that it has decided to terminate the agreement under which Unis Union would have acquired a 15% equity stake in Western Digital for $3.775 billion.

Western Digital affirmed its commitment to the acquisition of SanDisk Corp. (SNDK) and said the shareholders of SanDisk will receive the alternate merger consideration as outlined in the merger agreement. Western Digital continues to expect the transaction with SanDisk to close during the second calendar quarter of 2016.