China’s Tsinghua to buy Western Digital stake in U.S. tech push

China’s state-backed Tsinghua Holdings Co Ltd [TSHUAA.UL] plans to buy a 15 percent stake in U.S. data storage company Western Digital Corp, a deal that could draw regulatory scrutiny amid increased national security concerns. Tsinghua-owned Unisplendour Corp Ltd will invest $3.78 billion in Western Digital to boost its technology portfolio and get the right to nominate one representative to the U.S. company’s board, the companies said on Wednesday. Unisplendour will buy newly issued Western Digital shares at $92.50 each, a premium of about 33 percent to the stock’s Tuesday close.

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