The paper said the deal is expected to be unveiled later in the day, with Seagate planning to swap 0.37 of a Seagate
Under the terms of the deal, as reported by the Journal, the transaction is worth about $7.25 a share for Maxtor investors, a 60 percent premium to its closing price on Tuesday.
Both the Seagate and Maxtor boards have approved the deal, the paper reported, which will unit two big
Neither Seagate nor Maxtor representatives could be immediately reached for comment.
News Source: Reuters