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Technology Stocks : Disk Drive Sector Discussion Forum
WDC 157.75+0.4%Nov 14 9:30 AM EST
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To: Yogi - Paul who wrote (8192)3/29/2000 5:11:00 PM
From: Gus  Read Replies (2) of 9256
 

Seagate stockholders would receive total consideration of approximately $77.50 per share for each share of Seagate common stock, consisting of approximately 0.467 VERITAS Software shares and approximately $5 in cash, based on the closing market prices of the investment securities, as of March 28, 2000, and assuming a $500 million cash retention by VERITAS Software, and Seagate's anticipated cash position at closing. This transaction has no collar.

This transaction is structured so that the issuance of the VERITAS Software shares should be tax-free to the Seagate stockholders. Seagate stockholders may also be entitled to receive additional cash payments for tax refunds at or after closing. The final amount of additional VERITAS Software shares and cash per share will be determined at closing and will depend on a number of factors including the final cash position of Seagate and the market prices of the involved securities.
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