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Keyword: seagate

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  • Seagate to buy Maxtor for $1.9 bln in stock

    12/21/2005 10:43:52 AM PST · by ShadowAce · 45 replies · 728+ views
    Yahoo! News ^ | 21 December 2005 | Reuters
    NEW YORK (Reuters) - Seagate Technology (NYSE:STX - news) on Wednesday said it would buy rival computer disk-drive maker Maxtor Corp. (NYSE:MXO - news) for $1.9 billion in stock, aiming to cut combined costs and drive development of new products. In the deal, expected to be completed in the second half of 2006, Maxtor shareholders will receive 0.37 shares of Seagate common stock for each Maxtor share they own.At current prices, the transaction is worth about $7.25 a share for Maxtor investors, a premium of more than 60 percent to its closing price on Tuesday. Maxtor's stock has not traded...