According to media reports on the 7th, Western Digital said on Tuesday that it is reviewing strategic plans, including options for spinning off its flash memory and hard disk businesses.

The announcement comes a month after prominent activist investor Elliott Management disclosed it held a nearly $1 billion stake in the company and pushed for it to spin off its flash and hard drive businesses, the report said. Elliott is understood to own about 6 percent of the California-based company.

New York-based Elliott has also said it provided more than $1 billion in incremental equity capital to Western Digital's flash memory business, with an enterprise value of $17 billion to $20 billion.

"Through this process, we are actively pursuing a broad program of strategic and financial options that will help further optimize Western Digital's value, including Elliott's offer to our company," Western Digital CEO David Goeckeler said in a statement. Advice for flash business investing in incremental equity capital.