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Seagate confirms it plans to go private

Posted on Friday, October 15 2010 @ 14:18:51 CEST by


Seagate confirmed rumors that it plans to take itself off the stock market again, as the company revealed it has received a preliminary indication of interest regarding a going private transaction:
Seagate said that the company was "in discussions with the party from whom it [had] received the indication of interest". Seagate's board of directors is reportedly evaluating the indication of interest and other strategic alternatives. According to Bloomberg news-agency, Seagate holds talks with Texas Pacific Group (TPG) and KKP over potential acquisition. Earlier Silver Lake investment company withdrew from the negotiations, according to reports; but it looks like TPG is still interested.

In case the deal between strategic investors as well as Seagate ends up, the latter will become a private company for the second time since 2000.
More info X-bit Labs.


 



 

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