Western Digital Corp. (NASDAQ: WDC) agreed to buy SanDisk Corp. (NASDAQ: SNDK) for about $19 billion, gaining access to a supply of semiconductors that are at the heart of a fast-growing type of computer storage.

The drive maker will pay $86.50 a share for SanDisk, including $85.10 a share in cash and 0.0176 of a Western Digital common share, according to a statement Wednesday. SanDisk closed at $75.19 Tuesday in New York, giving the company a market value of $15.4 billion.

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