SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Seagate Technology - Fundamentals
STX 287.52+4.4%3:59 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Robert Douglas who wrote (1533)3/30/2000 2:18:00 PM
From: Sam  Read Replies (1) of 1989
 
Robertson Stephens Comments on SEG

SAN FRANCISCO--(BUSINESS WIRE)--March 30, 2000--Robertson Stephens Senior Network
Storage Analyst Dane Lewis today commented on Seagate Technology (NYSE:SEG - news) and
the recently announced transaction with Veritas Software (NASDAQNM:VRTS).

Seagate Technology designs, manufactures and markets a broad line of rigid magnetic disk drives for use in computer systems and
multimedia applications, such as digital video and video-on-demand.

``Seagate, Veritas and an investor group are involved in a $20 billion transaction that will result in Seagate going private,' said Lewis.
``Based on Veritas' closing price of $158 in aftermarket trading, Seagate shareholders would receive approximately $74 in VRTS
stock and $5 in cash or value of about $79. This is a 26 percent premium over the $62-3/4 closing price of SEG shares.'

``The new Seagate will keep the disk drive business as well as the IMG software and XIOtech divisions,' said Lewis. ``Also, the new
Seagate's balance sheet will benefit from the removal of $2 billion in deferred taxes and debt.'

``We are maintaining our Buy rating on Seagate and our fiscal 2000 and 2001 earnings-per-share estimates,' said Lewis.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News