Electrical Equipment / Components & Telecoms

On June 8, according to foreign media reports, memory storage equipment maker Western Digital said recently that it is reviewing strategic plans, including options for splitting its flash memory and hard disk businesses.

In May, activist investor Elliott Management, which owns a nearly $1 billion stake in Western Digital, pushed the company's board to split its hard-drive and flash-memory businesses.

Elliott has also said it provided more than $1 billion in incremental equity capital to Western Digital's flash memory business, with an enterprise value of $17 billion to $20 billion, either in spin-off transactions or as equity financing for a sale or merger with a strategic partner.

Elliott believes that the spin-off of flash and hard drives will allow Western Digital to create more value, and Western Digital's share price could reach more than $100 per share by the end of 2023

"Through this process, we are actively pursuing a broad plan of strategic and financial options that will help further optimize the value of Western Digital, including Elliott," Western Digital CEO David Gockler said in a statement. Offer to our company."