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SEAGATE TECHNOLOGY COMPLETES PRIVATE SHARE REDEMPTION TRANSACTION OF 32.7 MILLION SHARES HELD BY SAMSUNG

Seagate and Samsung Reaffirm Strategic Alignment Announced in April 2011

Seagate Technology plc (STX), a world leader in hard disk drives and storage solutions, today announced a private share redemption transaction with Samsung Electronics Co., Ltd. in the amount of 32.7 million ordinary shares, representing approximately 9% of Seagate’s shares outstanding as of the end of the fiscal first quarter 2014. Following the transaction, Samsung will continue to own approximately 12.5 million shares of Seagate and Dr. Seh-Woong Jeong, Executive Vice President at the Systems LSI Division of Samsung Electronics will remain on the Seagate Board of Directors.


http://finance.yahoo.com/news/seagate-technology-completes-p...

This article has views from several analysts.

Shares of Seagate Technology (STX) are down 21 cents, or half a percent, at $44.95, referring earlier gains, after the company this morning said it bought back 9% of its stock, 32.7 million shares, in a private transaction with Samsung Electronics (005930KS), for $46.03 per share, or $1.51 billion, leaving Samsung with 12.5 million shares of Seagate stock.

http://blogs.barrons.com/techtraderdaily/2013/10/08/seagate-...
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