Western Digital (WDC) Comments on Letter from Elliott Management
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Western Digital (WDC) Stock Surges 10% on Elliott's Letter Calling for Separation of Flash Business
May 3, 2022 8:39 AM UTCShares of Western Digital (NASDAQ: WDC) are up 10% in pre-open after Elliott Investment Management, which holds a roughly $1 billion stake in WDC, today sent a letter to the Board of Directors of Western Digital.
The letter is calling WDC to review the companys business structure and suggests creating two vastly... More
Elliott Investment Management Sends Letter to Board of Western Digital (WDC), Urges Split
May 3, 2022 7:43 AM UTC(Updated - May 3, 2022 7:45 AM EDT)
Elliott Investment Management L.P., which manages funds that have an approximately $1 billion investment in Western Digital Corporation (NASDAQ: WDC), today sent a letter to the Board of Directors of Western Digital. The letter called on the Board to conduct a full strategic review of the value that could be created by separating its two vastly different businesses, hard disk drives ("HDD") and NAND flash memory ("Flash").
According to the letter, Western Digital has underperformedoperationally, financially and strategicallyas a direct result of the challenges... More
