Seagate considered a takeover target

Posted on Wednesday, March 25 2009 @ 18:31 CET by Thomas De Maesschalck

X-bit Labs reports storage firm Seagate may be a takeover target:

The stock of Seagate Technology increased by more than 10% on Tuesday and trade volumes were six times higher than usual. Some analysts believe that this means that Seagate is about to be acquired, or is negotiating with a potential buyer. Perhaps, Seagate is getting ready to merge with another company.

“Call options in the disc driver maker exceed normal trading volume by 10 times. Based on heavy trading in June contracts, one idea is Seagate may be considered a takeover candidate,” observers from optionMonster web-site noted.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

Loading Comments

Share this story!