Firm Represents Seagate Technology in $1.9 Billion Acquisition of Maxtor Corporation
12.27.05
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Simpson Thacher is representing Seagate Technology (NYSE: STX) in its announced $1.9 billion acquisition of Maxtor Corporation (NYSE: MXO). Under the terms of the merger agreement, shareholders of Maxtor will receive 0.37 shares of Seagate common stock for each share they own. The transaction is expected to be completed in the second half of 2006, subject to obtaining shareholder and regulatory approvals.
Seagate is the worldwide leader in the design, manufacturing and marketing of hard disc drives, providing products for a wide-range of Enterprise, Desktop, Mobile Computing, and Consumer Electronics applications. Maxtor is one of the world’s leading suppliers of information storage solutions. Maxtor has an expansive line of storage products for desktop computers, near-line storage, high-performance Intel-based servers and consumer electronics.
The Simpson Thacher team includes William Hinman and Greg King in the Palo Alto office, Casey Cogut, Robert Spatt and Chris May (M&A), Alvin Brown and Aimee Adler (Executive Compensation and Employee Benefits), and Steve Todrys, Nancy Mehlman and Ben Applestein (Tax).