TweakTown
Tech content trusted by users in North America and around the world
5,980 Reviews & Articles | 38,640 News Posts

Western Digital tried to buy Seagate last year

Seagate turned down takeover bid from Western Digital last year

| Business, Financial & Legal News | Posted: Dec 5, 2010 11:52 pm

Well isn't that interesting! In October last year Seagate rejected a takeover bid from Western Digital. According to "two people with knowledge of the matter" Western Digital was willing to offer between 10 and 15 percent more than a competing takeover from TPG Capital which had already flashed $7.5 billion dollars under Seagate's nose.

 

TweakTown image news/1/7/17890_376.jpg

 

However the sheer size of the proposal supposedly led to the refusal, not only would it have created a mammoth company, it would have also lead to huge product overlaps (internal, external HDD's, etc) and would've led to many managerial departures - on top of all of this, significant antitrust obsticles.

 

NEWS SOURCES:Engadget.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts
Check out TweakTown Polls on LockerDome on LockerDome

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases