SCOTTS VALLEY, Calif. – November 29, 2010 – Seagate Technology plc (NASDAQ: STX) today announced its board of directors terminated discussions with private equity firms regarding a going private transaction, principally because it determined that the indications of the valuation range were not in the best interest of the company and its shareholders. As previously announced by Seagate on October 14, 2010, the company had received a preliminary indication of interest regarding a going private transaction and its board of directors was in discussions with that party.
Seagate Technology Terminates Private Equity Discussions And Announces Share Repurchase Authorization
Related Posts
One Comment
Post a Comment
* Seagate will review all blog submissions and determine, in its sole discretion, whether such submissions will be posted for broader viewing. No blog comment will be considered for posting if deemed potentially damaging to Seagate's reputation or insufficiently aligned with the relevant blog topic. Without in any way limiting the foregoing, no submissions will be posted that contain: confidential company information; profanity; racial slurs; gratuitous references to sex, substance use, or violence; or statements that are in any way contrary to the letter or spirit of Seagate's Code of Business Conduct and Ethics.
[...] to shareholders, who would each get a portion of any purchase price. Now, the company says it has ended those talks, and will be launching an additional $2 billion buyback of its own stock to increase the [...]