October 15, 2010 – Disk drive and storage solution company Seagate Technology stated Friday that its board of directors is reviewing buyout interest that would once again make the company private.
Seagate stated that it had not received a direct offer and does not guarantee any type of transaction, according to a news release. A news release stated that it was only “in discussions with the party.”
Bloomberg reported that private equity firms TPG and KKR are in talks to buy Seagate at about $16 per share, or $7.55 billion, and may include other firms in the deal.
The news service reported last month that previous talks with TPG and another investor, Silver Lake, to buy the company had broken down.
Seagate has retained legal counsel and financial advisors for the review of the interested parties, but noted in a news release that it would make no further comment at this time.
Seagate was a public company from the point it was founded in 1976 until a private investor group bought it in 2000. It returned to the public market in 2002.
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