European Commission entering Phase II Review of WD proposed acquisition
30 May 2011 Source: www.wdc.com
Western Digital Corporation (NYSE: WDC) today said it was informed by the European Commission (EC) that the EC would enter a Phase II review of WD's previously announced acquisition of Hitachi Global Storage Technologies' holding company, Viviti Technologies Ltd., a wholly owned subsidiary of Hitachi, Ltd. The company is co-operating fully with the EC in the Phase II review.
The proposed acquisition, which is subject to several closing conditions, including the receipt of antitrust approvals or the expiration of applicable waiting periods in certain jurisdictions, is now expected to close in the fourth calendar quarter of 2011.
The company indicated that it is proceeding, on plan, with its integration-planning activities associated with the proposed acquisition.
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