Western digital announces $900 million convertible preferred equity investment led by apollo-managed funds

San jose, calif.--( business wire )--western digital corporation (“western digital”) (nasdaq: wdc) today announced that funds managed by affiliates of apollo global management, inc. (“apollo”) led the purchase of $900 million of convertible preferred stock of western digital, along with elliott investment management l.p. (together with its affiliates, “elliott”) who also invested in the convertible offering. the investment strengthens western digital's financial position and flexibility as the company continues its review of strategic alternatives aimed at further optimizing long-term value for its shareholders.
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