O'Melveny Reps Western Digital In $4.3B Tech Unit Buy

Law360, New York (March 7, 2011, 1:18 PM EST) -- Hard drive maker Western Digital Technologies Inc. said Monday it would shell out $4.3 billion to pick up Hitachi Ltd.'s storage technology unit in a deal that has already bagged the approval of both companies' boards of directors.

Western Digital agreed to pay $3.5 billion in cash and use 25 million of its common shares, valued at $750 million based on Friday's closing stock price, to buy Hitachi Global Storage Technologies, a wholly-owned subsidiary of the Japan-based technology company, the buyer said.

Hitachi Ltd., meanwhile, will...
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