Western Digital to Swap About 1.04 Million SanDisk Shares for WDC Stock
The privately negotiated exchange will be priced by June 16–18 volume-weighted averages with settlement planned for June 22.
Overview
- Western Digital disclosed on June 11 that it has agreed to transfer 1,038,681 SanDisk shares to selected institutional investors in return for an as-yet-undetermined number of WDC shares.
- The exact number of WDC shares to be issued will be calculated from the volume-weighted average prices for WDC and SNDK during June 16–18 and the transaction is scheduled to complete on June 22, 2026.
- Markets reacted immediately the next day when WDC shares rose about 6.04 percent and the company's market capitalization reached roughly $168.9 billion.
- Western Digital describes the swap as a balance-sheet and capital-structure move that will modestly lower its SanDisk stake while concentrating those shares with institutional holders through private deals rather than a public sale.
- Analysts continue to rate WDC a Buy with a $590 target but warn of heightened volatility, cloud-demand and HAMR risks, and investors are watching roughly $19.8 million of recent insider stock sales for added context.