- Western Digital management announced that they were going to review their strategic alternatives and would continue to work with Elliott Management.
- Elliott believes that by splitting into two focused companies, Western Digital shares could rise to $100 or more.
- Western Digital hired two financial advisors, one of which is Frank Quattrone's Qatalyst Partners.
- Elliott is willing to invest another $1 billion+ via the flash business at an enterprise value of $17-$20 billion (roughly equal to the company's current enterprise value).
For further details see:
Western Digital: Shares Are A Buy As Management Engages With Activist Investor