Western Digital Announces Secondary Offering by Hitachi

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Western Digital® Corp. announced today an underwritten secondary public offering of 10,869,566 shares of its common stock by Hitachi, Ltd. (the “Selling Stockholder”). The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 1,630,434 shares.

An aggregate amount of 25 million shares of the company's common stock were issued to the Selling Stockholder in connection with Western Digital’s acquisition of Viviti Technologies Ltd., formerly known as Hitachi Global Storage Technologies Holdings Pte. Ltd., in March 2012. Upon completion of the offering, the Selling Stockholder will beneficially own 14,130,434 shares of the company’s common stock (12,500,000 shares if the underwriters exercise in full their option to purchase additional shares) and will continue to have two designated directors on the company’s board of directors pursuant to the terms of an investor rights agreement between the company and the Selling Stockholder.
 
Qinsp said:
Samsung, Toshiba, Seagate, WD, IBM?
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IBM sold off its hard drive division quite some time ago to Hitachi. I want to say around 2003. It was shortly after the infamous 75GXP Deskstar AKA "Deathstar" debacle where desktop drives were failing left and right. I had mine die within a couple months of owning it.
 
Samsung sold its hard drive division to Seagate.

I believe at the moment it is currently only Seagate, Western Digital and Toshiba (bought Fujitsu HD division and certain Hitachi assets from WD).
 
Qinsp said:
Samsung, Toshiba, Seagate, WD, IBM?
Click to expand...

IBM is now Hitachi (have been since 2005 or 2006), Hitachi are part of, or majority holder of WD, Seagate is mostly owned by Samsung, so three manufacturers, since I think Toshiba are sort of on their own, or possibly tied in to Fujitsu (normally find one or the other in either of their laptop range, I think the only difference is the label slapped on it).
 
Western Digital® Corp. announced today the pricing of the previously announced underwritten secondary public offering of 10,869,566 shares of its common stock by Hitachi, Ltd. (the “Selling Stockholder”), at a price to the public of $67.00 per share. The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 1,630,434 shares.
 
Outamyhead said:
IBM is now Hitachi (have been since 2005 or 2006), Hitachi are part of, or majority holder of WD, Seagate is mostly owned by Samsung, so three manufacturers, since I think Toshiba are sort of on their own, or possibly tied in to Fujitsu (normally find one or the other in either of their laptop range, I think the only difference is the label slapped on it).
Click to expand...

Samsung does not own Seagate. It only had a roughly 12.5% stake after selling them their hard drive business. They actually just sold a large part of that the other day so they are slowly walking away from Seagate completely.

Hitachi is similar. After the closing, they only held 10% of WD and Toshiba purchased Fujitsu's hard drive business 5 years ago, and they also own Hitachi's old 3.5" hard drive business.
 
Lets not forget Connor and Micropolis.

(Had a Micropolis SCSI drive that sounded like a damn F1 racecar).
 
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