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Short Take: Western Digital increases number of common shares

Western Digital shareholders approved a proposal to increase the number of common shares to 225 million from 95 million at a special stockholder meeting March 11. The additional shares are available to meet future business needs such as a stock dividend or split to raise additional capital, to issue shares under employee benefit or management incentive plans, or to establish strategic business relationships, according to the company.

Western Digital shareholders approved a proposal to increase the number of common shares to 225 million from 95 million at a special stockholder meeting March 11. The additional shares are available to meet future business needs such as a stock dividend or split to raise additional capital, to issue shares under employee benefit or management incentive plans, or to establish strategic business relationships, according to the company.