Sunday, December 11, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Apple AirPods Will Miss Holiday Season
Japan Display To Receive ¥50 bil. Support From Government
Google Said to Bring Internet To Cubans
Super Mario Run Won't Play Offline
U.S. Confirms Samsung and LG Dumped Washers
Xiaomi Electric Vehicle Launch on Monday, Yeelight LED Ceiling Light Launched
Hon Hai, Sharp To Build Massive LCD TV Plant In China
U.S. To Review Cyber Attacks Beyond 2016 Election
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%.


Previous
Next
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 Introduces Cloud-syncing Portable Hard Drive for Amazon Drive
Seagate Releases 10TB IronWolf Pro For Small-To-Midsize Enterprises
Seagate Introduces 5TB Mobile Drive, New ClusterStor System For HPC Applications
Seagate Launches 512GB SSD For The Xbox
Seagate 6th Generation High-Speed Enterprise Performance HDD
Seagate Launches Two New BarraCuda Drives
Seagate Invited ValueAct To Become A Major Shareholder
Seagate Accelerates Enterprise Momentum With 10GB/s PCIe SSD And 60TB SAS SSD
Seagate Introduces New SATA SSD For Enterprise Cloud Applications
Seagate Releases First 2TB M.2 Enterprise SSD
Seagate Unveils 10TB hard Drive Portfolio
Seagate Ups Q4 Outlook, Cuts 6500 Jobs

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .