Negotiations collapsed as Seagate wasn’t meeting some of the financial projections the two private-equity firms had based the deal on, said one of the people familiar with the situation. That led to a disagreement over price, the person said. Morgan Stanley, Deutsche Bank AG and Bank of America Corp. were advising and lending on the deal, the people said.
“The personal computer market is going to have a weak finish to the year and the market for hard drives is oversupplied, so there’s margin and price pressure,” said Ashok Kumar, an analyst at Rodman & Renshaw LLC in New York, who rates Seagate “market outperform.”
Seagate wants to go private again
Posted on Friday, September 24 2010 @ 15:55 CEST by Thomas De Maesschalck