Friday, November 10, 2017

WD Announces Authorization To Resume Potential Snare Repurchases

Western Digital Corporation today announced an authorization to resume potential repurchases of its common stock under a previously approved repurchase program by its board of directors (the "board"), subject to market conditions and compliance with applicable covenants under the company's financing agreements and indentures. The board had previously authorized $5.00 billion for the repurchase of the company's common stock. The company had previously indicated that it was suspending repurchases of common stock in connection with the acquisition of SanDisk and has not conducted any repurchases since August 2015. The remaining amount available to be purchased under the company's stock repurchase program as of November 9, 2017, was $2.10 billion, and the stock repurchase program is effective until February 3, 2020.