Seagate Technology PLC says it is in discussions with an
unnamed party that is interested in taking the company private.
The company announced on Thursday that it had received a
preliminary indication of interest regarding a going private
transaction. The company is in discussions with the party from
whom it received the indication of interest, and its board of
directors is evaluating the indication of interest and other
strategic alternatives. Seagate has retained Morgan Stanley &
Co. Incorporated and Perella Weinberg Partners LP to provide
financial advice and Wilson Sonsini Goodrich & Rosati and
Arthur Cox as legal counsel. Seagate added that there is no
assurance that the company would receive a formal offer or that
any transaction would take place.
"Neither the company nor its representatives will be providing
any additional comments regarding the preliminary indication of
interest," Seagate added.