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The Western Digital SanDisk Divestiture and Deleveraging Strategy
SanDisk drops after Western Digital announces a $3.09B secondary share sale
What happened
Western Digital ($WDC) plans to sell its remaining SanDisk ($SNDK) shares via a secondary offering worth about $3.09B.
The sale is tied to a near-term tax deadline (Feb 21, 2026) and is aimed at accelerating debt reduction, including a debt-for-equity exchange involving affiliates of JPMorgan ($JPM) and Bank of America ($BAC).
$SNDK dipped on the “new supply / overhang” headline, while $WDC ticked up on the balance-sheet improvement angle.
Why this matters to traders
Secondary offerings often pressure…
The skinny
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