Western Digital’s long-awaited approval of their Hitachi purchase has cleared one more regulatory hurdle, gaining conditional approval from the EU. WD has announced in their quarterly call about a month ago that they expected approval from the EU by the end of November. While other approvals need to be obtained still, the EU approval was the last potential major stumbling block in the $4.25 billion transaction.
Western Digital’s long-awaited approval of their Hitachi purchase has cleared one more regulatory hurdle, gaining conditional approval from the EU. WD has announced in their quarterly call about a month ago that they expected approval from the EU by the end of November. While other approvals need to be obtained still, the EU approval was the last potential major stumbling block in the $4.25 billion transaction.
WD will have to sell a few facilities and intellectual property before the Hitachi deal closes, including a 3.5" hard drive plant. WD had expected certain divestitures would be necessary to close the transaction.
via Reuters
