Why Western Digital stock is moving today: Sandisk debt swap deal, insider sale in focus
Western Digital shares rose 2.5% to $291.77 Friday after announcing a $3.17 billion debt-for-equity swap involving 5.8 million Sandisk shares at $545 each. Sandisk shares gained 2.6%. A filing showed Western Digital’s sales chief sold 10,000 shares under a pre-arranged plan. The Sandisk offering is expected to close Feb. 19.