Hard drive manufacturer Western Digital announced Wednesday its intention to divest a massive $3.17 billion investment in flash memory company SanDisk.
According to SanDisk’s announcement, Western Digital plans to offload more than 5.8 million SanDisk shares, with each share priced at $545.
The share price represents a markdown of approximately 7.7% compared to SanDisk’s Tuesday closing price of $590.59.
