Seagate Technology Announces Preliminary Interest Regarding A Going Private Transaction
SCOTTS VALLEY, Calif. – October 14, 2010 – Seagate Technology plc (NASDAQ: STX) announced today that it has 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. The company 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. There is no assurance that the company will receive a formal offer or that any transaction will take place.