Seagate Technology - Fundamentals Message Board

STOCKTALK

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 285.23

+0.9%

Dec 24 12:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Z Analyzer who wrote (1923)	8/30/2000 10:52:40 PM
From: Sam	Read Replies (1) of 1989

I just waded through the Yahoo Seagate and Veritas boards. Here is a post from the VRTS board (which is generally much more substantive than the SEG board these days) that is worth a read. My thanks to Intlbkr. SEC filing by: Intlbkr 8/30/00 8:22 pm Msg: 12930 of 12933 Today SEG filed a SC 13E3/A with the SEC. This is the second amended filing regarding the SEG/VRTS deal. This is presumably the formal documentation of discussions between SEG and the SEC and should enable the SEC to give the green light. I would expect proxies to follow in the very near future. Some items of note: 1. Timing. "We are working toward completing the leveraged buyout and the merger as quickly as possible. We hope to complete both the leveraged buyout and the merger during the fourth calendar quarter of 2000." 2. Updated tables of the compensation SEG shareholders would receive under the three cash retention scenarios by VRTS and at various VRTS price levels. These have not changed materially from the previous filing. 3. SEG confirmed the sale of all shares of Sandisk and Veeco so the only remaining shares involved in the deal price are ZOOX and LHSP. IMO the value of these, as discounted for tax and liquidity, represent an almost negligible part of the deal price now (something like $.35/SEG share). 4. The potential tax refund payable to SEG shareholders could reach as high as $2.35/SEG share. The amount and the realization of this component are uncertain. 5. An updated fairness opinion dated Aug. 29 from Morgan Stanley. This specifies that the fairness opinion refers to the overall deal price to SEG shareholders and does not speak to the individual components of the price, such as the price the LBO group is paying for the operating assets or the ratio of VRTS/SEG shares to be issued. 6. Morgan Stanley gives valuation ranges for SEG's operating business using various valuation methods. 7. SEG's summary financial projections for 2001-2008 as submitted to the LBO group are included in this filing. All disclaimers are made. I would encourage all SEG shareholders to read this filing. Intlbkr

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next