On Wednesday, SanDisk Corp. (SNDK.US) opened down 1.6% at $580.8, while Western Digital (WDC.US) saw a slight increase of 0.76% to $286.5. The movement follows reports that Western Digital is arranging to sell its entire stake in its flash memory business subsidiary, SanDisk, aiming to raise approximately $3.09 billion. The share offering is priced between $535 and $555 per share, representing a discount of up to 9.4% compared to SanDisk's closing price of $590.59 on Tuesday. Although the exact number of shares to be sold has not been disclosed, the offering has generated strong market interest and was oversubscribed during the private placement phase.