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Western Digital tried to buy Seagate last year

Seagate turned down takeover bid from Western Digital last year

By: Anthony Garreffa from Dec 5, 2010 @ 17:52 CST

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.

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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

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