Seagate and Maxtor Announce Expiration of Hart-Scott-Rodino Waiting Period for Proposed Acquisition
14 Febbraio 2006 - 1:00PM
PR Newswire (US)
SCOTTS VALLEY, Calif. and MILPITAS, Calif., Feb. 14
/PRNewswire-FirstCall/ -- Seagate Technology (NYSE:STX) and Maxtor
Corporation (NYSE:MXO) today announced that the waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976,
with respect to the proposed acquisition of Maxtor by Seagate, has
expired. As a result, no further anti-trust regulatory review of
the merger will be necessary in the United States. As previously
announced, the transaction is subject to other customary closing
conditions and regulatory approvals by the competition review
authorities of the European Union and several other jurisdictions
as well as authorization by shareholders of both companies. Both
parties continue to expect the transaction to close during the
second half of 2006, following approval from shareholders of both
companies and the satisfaction of all other closing conditions.
About Seagate 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. Seagate's business model
leverages technology leadership and world-class manufacturing to
deliver industry-leading innovation and quality to its global
customers, and to be the low cost producer in all markets in which
it participates. The company is committed to providing
award-winning products, customer support and reliability to meet
the world's growing demand for information storage. Seagate was
named 2006 Company of the Year by Forbes Magazine. Seagate can be
found around the globe and at http://www.seagate.com/. About Maxtor
Maxtor Corporation (http://www.maxtor.com/) is one of the world's
leading suppliers of information storage solutions. The company has
an expansive line of storage products for desktop computers,
near-line storage, high-performance Intel-based servers and
consumer electronics. Maxtor has a reputation as a proven market
leader built by consistently providing high-quality products, and
services and support for its customers. Maxtor and its products can
be found at http://www.maxtor.com/ or by calling toll-free
800-2-MAXTOR. Maxtor is traded on the NYSE under the MXO symbol.
NOTE: Seagate, Seagate Technology and the WAVE logo are registered
trademarks of Seagate Technology LLC. Safe Harbor This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements include, but are not limited to,
statements related to the parties' expected timeframe for the
completion of the acquisition of Maxtor by Seagate. These
forward-looking statements are based on information available to
Seagate and Maxtor as of the date of this release and involve a
number of risks and uncertainties that could cause actual results
to differ materially from those anticipated by these
forward-looking statements. Such risks and uncertainties include a
variety of factors, some of which are beyond the companies'
control. In particular, such risks and uncertainties include the
outcomes of the ongoing regulatory review of the merger, including
approvals by the competition review authorities of the European
Union and several other jurisdictions, as well as approval of the
transaction by shareholders of both companies. Information
concerning additional factors that could cause results to differ
materially from those projected in the forward-looking statements
is contained in Seagate's Annual Report on Form 10-K as filed with
the SEC on August 1, 2005 and Quarterly Report on Form 10-Q as
filed with the SEC on February 3, 2006, and Maxtor's Annual Report
on Form 10-K/A as filed with the SEC on May 13, 2005, Quarterly
Report on Form 10-Q as filed with the SEC on November 4, 2005 and
Form S-3/A as filed with the SEC on January 30, 2006. These
forward-looking statements should not be relied upon as
representing Seagate's or Maxtor's views as of any subsequent date
and neither undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made. IMPORTANT ADDITIONAL INFORMATION This communication is
being made in respect of the proposed transaction involving Seagate
and Maxtor. In connection with the proposed transaction, Seagate
plans to file with the SEC a Registration Statement on Form S-4
containing a Joint Proxy Statement/Prospectus and each of Seagate
and Maxtor plan to file with the SEC other documents regarding the
proposed transaction. The definitive Joint Proxy Statement /
Prospectus will be mailed to stockholders of Seagate and Maxtor.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE JOINT PROXY
STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
Investors and security holders will be able to obtain free copies
of the Registration Statement and the Joint Proxy
Statement/Prospectus (when available) and other documents filed
with the SEC by Seagate and Maxtor through the web site maintained
by the SEC at http://www.sec.gov/. In addition, investors and
security holders will be able to obtain free copies of the
Registration Statement and the Joint Proxy Statement/Prospectus
(when available) and other documents filed with the SEC from
Seagate by directing a request to Seagate Technology, 920 Disc
Drive, P.O. Box 66360, Scotts Valley, California 95067, Attention:
Investor Relations (telephone: 831-439-5337) or going to Seagate's
corporate website at http://www.seagate.com/, or from Maxtor by
directing a request to Maxtor Corporation, 500 McCarthy Boulevard,
Milpitas, California 95035, Attention: VP of Investor Relations
(telephone: 408-894-5000) or going to Maxtor's corporate website at
http://www.maxtor.com/. Seagate and Maxtor, and their respective
directors and executive officers, may be deemed to be participants
in the solicitation of proxies in respect of the proposed
transaction. Information regarding Seagate's directors and
executive officers is contained in Seagate's Annual Report on Form
10-K for the fiscal year ended July 1, 2005, its proxy statement
dated October 7, 2005 and its Current Report on Form 8-K dated
December 22, 2005, which are filed with the SEC. Information
regarding Maxtor's directors and executive officers is contained in
Maxtor's Annual Report on Form 10-K/A for the fiscal year ended
December 25, 2004 and its proxy statement dated April 11, 2005,
supplemental proxy statement dated May 10, 2005 and Current Report
on Form 8-K dated August 24, 2005, which are filed with the SEC.
Additional information regarding the interests of such potential
participants will be included in the Joint Proxy
Statement/Prospectus and the other relevant documents filed with
the SEC (when available). DATASOURCE: Seagate Technology LLC
CONTACT: media, Brian Ziel, +1-831-439-5429, or , or investors, Rod
Cooper, +1-831-439-2371, or , both of Seagate; or Jenifer Kirtland
of Maxtor, +1-408-324-7056, or Web site: http://www.maxtor.com/ Web
site: http://www.seagate.com/
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