Sunday, March 18, 2018
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Facebook Suspends Data Analytics Firm Which Worked on the Trump Presidential Campaign
Standalone Oculus Go Headset Could Debut Next Month
Qualcomm Director Paul Jacobs to Exit Qualcomm Board
Samsung Galaxy S9 and S9+ Go On Sale
Samsung in Talks With Boeing to Bring Mobile Tech To Planes
Samsung's Galaxy S9 Said to Use Chinese Optical Parts
Facebook Lite to Come in the U.S. and Elsewhere
Android Wear Becomes Wear OS by Google
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Seagate...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, November 30, 2010
Seagate Terminates Private Equity Discussions

Seagate Technology PLC has terminated discussions about a private equity-led buyout and instead has won board approval to buy back $2 billion of its own shares.

Seagate terminated the 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."

On October 14, 2010, Seagate had received a preliminary indication of interest regarding a going private transaction and its board of directors was in discussions with that party.

"We appreciate the interest shown by the private equity firms and our dialogues with them were extensive and thoughtful," said Steve Luczo, Seagate chairman and CEO. "However, management and the Board have chosen to cease discussions concerning a private equity-led leveraged buyout. Given the strong debt markets, improving business conditions and other financing options, Seagate has initiated a plan to further optimize its capital structure to maximize shareholder returns."

Additionally, Seagate?s board of directors has authorized the company to repurchase up to an additional $2 billion of its outstanding ordinary shares.

Seagate management believes that the demand for hard disk drives has improved, and the current expectation for the total available market in the December 2010 quarter is approaching 170 million units. Additionally, supply and demand appear to be well balanced, with the company?s inventory across all channels at or below targeted levels.

As such, for the December 2010 quarter, the company expects revenue to be at least $2.7 billion and gross margin as a percent of revenue to be at least 19.5%.

Court Dismisses Nero's Antitrust Claim Against MPEG LA        All News        Toshiba Releases Self-encrypting Drives
Facebook co-founder Launches Jumo Social Network     General Computing News      Google Earth 6 Introduces 3D Trees, More Realism

Get RSS feed Easy Print E-Mail this Message

Related News
Seagate Releases Far Cry 5 Special Edition HDD for PS4
Save Your Pirate Stories on the New Seagate "Sea of Thieves" Game Drive for Xbox
Seagate Showcases New Mobile Data Storage Solutions at CES 2018
Seagate Says Multi Actuator Technology Can Double Performance of Hard Drives
Seagate Launches SkyHawk Drive For AI-Enabled Surveillance
Seagate Sees 20TB HAMR Drives Coming in 2019
Seagate Guardian Series Now Includes 12TB Drives for NAS and Desktops
Seagate Revs Up Nytro Flash Storage Portfolio
Store More PlayStation 4 Games with Seagate's New 2TB Game Drive
Seagate Delivers 8TB Game Drive Hub for Xbox Gamers
Seagate's Latest Game Drive Released
Seagate And DJI Announce New Portable Drive For Storing Drone Footage

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .