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Technology Stocks : WDC/Sandisk Corporation
WDC 163.00-0.4%Nov 7 9:30 AM EST
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Bruno Cipolla
To: SSDiesel who wrote (60122)4/19/2016 1:22:18 PM
From: SiliconAlley1 Recommendation  Read Replies (1) of 60323
 
There was no forcing by Western Digital. The deal was based on a certain amount of available cash on hand, and the terms of the deal would have changed if cash went below a threshold amount. SanDisk chose to suspend the dividend in order to ensure meeting required cash levels. This cash is being used to pay off the bridge loan.

I've already converted a good portion of my shares, and much happier with the higher dividend rate as well as the higher growth potential.
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