Seagate Buy Maxtor
"Seagate Buy Maxtor"
Published: 18th May 2006 | Source: N/A |
Seagate have today announced that Seagate and Maxtor stock-holders have approved a merger of the two big Hard Drive Manufacturers, with Seagate Acquiring Maxtor.
"This combination will deliver greater scale by leveraging Seagate's successful business model and is not intended to be a traditional integration of product lines or operations" said Bill Watkins, Seagate's President and CEO.
Maxtor stockholders will receive 0.37 shares of Seagate common stock for each Maxtor share they owned at the closing. The move is expected to be closed in the next 2-3days.
Good news for the HDD market?? Or less competitoin for the big boys??
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