On June 28, Western Digital Corporation and Komag, Incorporated announced that the two companies have entered into a definitive agreement for WD to acquire Komag for $32.25 in cash per share for a value of approximately $1 billion.

Read the full press release at Western Digital:

The deal will give Western Digital ownership of its own media manufacturing capability, further strengthening Western Digital's position as a highly efficient hard drive manufacturer.  Western digital purchased the head assets of Read-Rite in 2003. John Coyne (CEO and President of Western Digital) said "This acquisition will enable WD to optimize synergies through the integration of heads and media, secure our long-term supply of media, and sharpen our ability to deliver high quality, highly reliable and cost-effective products to our customers."

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