Western Digital Stock Surges As Activists Seek Flash Business Sale

Updated at 9:43 am EST

Western Electronic Corp.  (WDC) – Get Western Digital Company Report shares surged higher Tuesday as activist investors renewed their press for changes at the chipmaker and called for the sale of its flash memory small business. 

In a letter to the Western Electronic posted Tuesday, activists at Elliott Management, which promises a 6% stake in the team valued at all around $1 billion,  pledged one more $1 billion in financing to support fund possibly a spin-off, sale or merger with a strategic lover of the flash memory unit, which its says could be valued at concerning $17 billion and $20 billion.