As of tomorrow, SanDisk will officially become a part of Western Digital as the latter has finally received final regulatory approval for the acquistion:
SanDisk Corporation (NASDAQ: SNDK) today announced that the Ministry of Commerce of China (“MOFCOM”) has approved the acquisition of SanDisk by Western Digital Technologies, Inc., a wholly-owned subsidiary of Western Digital Corporation (NASDAQ: WDC).
“We are pleased that the final regulatory approval has been received and we can now proceed with the planned combination with Western Digital”
All necessary regulatory approvals for the acquisition have now been received and the transaction is expected to close on Thursday, May 12, 2016. SanDisk stockholders previously voted to approve the transaction at a special meeting of stockholders held on March 15, 2016.
“We are pleased that the final regulatory approval has been received and we can now proceed with the planned combination with Western Digital,” said Sanjay Mehrotra, president and chief executive officer, SanDisk. “We thank our stakeholders for their support of this transaction and look forward to contributing to the success of Western Digital as it transforms into the leading storage solutions company.”