Hitachi selling $728M worth of Western Digital shares

|About: Hitachi Ltd. ADR (HTHIY)|By:, SA News Editor

Hitachi (HTHIY) is selling 10.87M of the 25M Western Digital (WDC -0.7%) shares it received as part of its compensation for the latter's purchase of the former's hard drive unit. (PR)

The shares are being sold through a secondary offering that has been priced at $67 (3% below WDC's current trading price), and features a 1.63M-share underwriter option.