Simpson Thacher assisted in connection with Western Digital Corporation’s (“Western Digital”) exchange of 653,203 shares of common stock of Sandisk Corporation (“Sandisk”) for 1,865,801 shares of Western Digital common stock held by certain institutional investors, pursuant to exchange agreements.
Simpson Thacher has been a leader in the tax-free debt-for-equity, debt-for-debt and equity-for-equity space, having previously represented the financing sources in connection with General Electric Company’s spin off of GE HealthCare Technologies Inc., MDU Resources Group, Inc.’s spin off of Knife River Corporation, Discovery, Inc.’s combination with a portion of the WarnerMedia segment of AT&T Inc., Neogen Corporation’s combination with the Food Safety Business of 3M Company and Olin Corporation’s acquisition of The Dow Chemical Company’s Chlor-Alkali business.
To date, Simpson Thacher has assisted in connection with $4.5 billion of debt-for-equity exchanges and equity-for-equity exchanges related to Sandisk stock.
Sandisk is a leading developer, manufacturer and provider of data storage devices and solutions based on NAND flash technology. With a differentiated innovation engine driving advancements in storage and semiconductor technologies, its broad and ever-expanding portfolio delivers powerful flash storage solutions for everyone from students, gamers and home offices, to the largest enterprises and public clouds to capture, preserve, access and transform an ever-increasing diversity of data. Our solutions include a broad range of solid state drives, embedded products, removable cards, universal serial bus drives and wafers and components.
Western Digital builds the storage infrastructure that powers certainty in the AI-driven data economy. At the forefront of innovation, Western Digital partners with the world's leading hyperscalers, cloud service providers and enterprises to enable reliable storage solutions that are proven and trusted at scale. Driven by a culture of innovation and execution, Western Digital helps customers store, protect and use the world's data with confidence.
The Simpson Thacher team included David Azarkh, Evan Zuckerman and Kelly Johnson (Capital Markets); Jonathan Lindabury (Derivatives); Meredith Abrams (Registered Funds); and Andrew Purcell (Tax).