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0.00183182135380328 0.00209351011863232 0.00610607117934406 0.011427076064201 0.0233775296580601 0.00558269364968598 0.0122121423586881 0.011880669923238
Stock impact report

Elliott Urges Western Digital To Spin Off Flash Business [Forbes]

Western Digital Corporation (WDC) 
Last western digital corporation earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.wdc.com
Company Research Source: Forbes
(Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)Deal OverviewOn May 3, 2022, activist investor firm Elliot Investment Management wrote to Western DigitalWDCNDAQWestern Digital Corp Price PerformanceSpin-Off ResearchSnapshot of the letterDespite WDC’s strong competitive position and successful partnerships in the recent past, Elliot expressed concern about the company’s underperformance - operationally, financially and strategically, as a direct result of the challenges of operating two vastly different businesses under the umbrella of the same company. Elliott stated that the separation of both the businesses is the best path forward for the long-term success and for WDC to retain its position in the industry. Elliot believes that this course of action has the potential to send WDC’s stock above $100 per share by the end of 2023, representing an upside of ~100%. To demonstrate its conviction in the value of a standalone and focused Flash business (NewCo), Show less Read more
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