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Mergers & Acquisitions

May 16, 2000

DEALS: SEAGATE DIVIDES IN COMPLEX, $20 BILLION TRANSACTION

Seagate Technology Inc. has been acquired by Veritas Software Corp. and a private investor group led by Silver Lake Partners in a complex $20 billion transaction. The deal, which comes a year after an initial merger of one of Seagate's software divisions with Veritas, involves Veritas buying back the shares which Seagate holds in order to acquire the company in full. Seagate simultaneously will sell a portion of its disk drive manufacturing business to Silver Lake Partners.

        Seagate Technology Inc. has been acquired by Veritas Software Corp. and a private investor group led by Silver Lake Partners in a complex $20 billion transaction. The deal, which comes a year after an initial merger of one of Seagate's software divisions with Veritas, involves Veritas buying back the shares which Seagate holds in order to acquire the company in full. Seagate simultaneously will sell a portion of its disk drive m...

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