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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 SOURCE
Engadget.com

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