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Sandisk Corp. (SNDK) is deepening its presence in the semiconductor sector through a $1 billion equity investment in Taiwan-based memory manufacturer Nanya Technology as the race in the memory chip market heats up.
On Wednesday, Sandisk finalized a private placement arrangement with Nanya Technology Corp. to acquire a minority stake in the Taiwanese firm as part of a broader collaboration.
Under the terms, Sandisk will purchase roughly 139 million newly issued shares in Nanya, committing close to $1 billion for the stake.
Sandisk stock inched 0.7% higher in Wednesday’s premarket.
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