Western Digital to Acquire Hitachi Unit for $4.3 Billion

Western Digital Corp. (WDC), the largest maker of computer hard-disk drives, on Monday said it is buying Hitachi Global Storage Technologies, the third largest, for $4.3 billion in cash and stock. Western Digital will pay $3.5 billion in cash and give Hitachi 25 million of its shares, according to a statement from the companies today. The stock is valued at $750 million based on the co.’s Friday closing PPS of $30.01.