Maples and Calder Advises Western Digital on Acquisition of SanDisk
Maples and Calder has advised Western Digital Corporation ("Western Digital") on the Cayman Islands law corporate and financing aspects of the acquisition by its wholly-owned subsidiary Western Digital Technologies, Inc. of SanDisk Corporation ("SanDisk"), which completed on 12 May 2016 and valued SanDisk at a total equity value of approximately US$19 billion.
Under the terms of the transaction, each outstanding share of SanDisk's common stock was converted into the right to receive $67.50 per share in cash and 0.2387 shares of Western Digital common stock.
Alasdair Robertson, Global Managing Partner at Maples and Calder, commented: "We are delighted to have assisted our long standing client on this successful acquisition, and to work again with US Counsel Baker & McKenzie and Cleary Gottlieb Steen & Hamilton. We really enjoy working on complex merger transactions and this type of deal reflects our ongoing standing as the leading Cayman Islands corporate law firm.
Maples and Calder's team was led by partners Alasdair Robertson and Jonathon Meloy with the assistance of associate Kaneesa Ebanks-Wilson.