Seagate Says Talks Underway To Go Private, Again


Seagate is in discussions with a third party over the possibility of taking the storage company private.

If the discussions result in a transaction, it would be the second time that Seagate went private.

Seagate on Thursday issued a statement in which it said that it received "a preliminary indication of interest regarding a going private transaction." The company further stated that it is in discussion with the party who indicated the interest, and that its board of directors is "evaluating the indication of interest and other strategic alternatives."

Seagate did not unveil the name of the third party, and said it will not provide any additional comments regarding the talks at this time. The company also said that there is no assurance that it will receive a formal offer or actually complete any transactions which would take it private.

Bloomberg reported in September that Seagate was talking to TPG Capital and Silver Lake, two investment firms which previously owned Seagate, about the possibility of taking Seagate private in a deal worth about $7 billion. However, Bloomberg wrote, the deal fell through because Seagate was not meeting financial projections that the two investment firms were expecting.

 

Next: The First Time Seagate Went Private