Western Digital reviews splitting flash-memory and HDD

Memory storage devices maker Western Digital said it is reviewing strategic alternatives, including options for splitting off its flash-memory and HDD businesses.
Western Digital at a trade show
The announcement comes a month after prominent activist investor Elliott Management disclosed a stake of nearly $1 billion in the company and pushed it to separate its flash and hard-drive business. Elliott owns roughly 6 percent in the California-based company.

New York-based Elliott said it offered over $1 billion of incremental equity capital into Western Digital’s Flash business at an enterprise value of $17 billion to $20 billion.

“We are engaging in a range of strategic and financial alternatives that will help optimize the value of Western Digital, including Elliott’s offer to invest incremental equity capital in our Flash Business,” said Western Digital Chief Executive Officer David Goeckeler.

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