I guess it's a reflection of just how hated this group has become that the largest merger in sector history has just been approved with no discussion or comment on this board.
FWIW, I bought a little WDC. They will probably go up from here for at least awhile on speculation that they will gain share, if they execute properly.
Maxtor and Quantum Announce Stockholder Approval for
Maxtor/Quantum HDD Business Combination
MILPITAS, Calif., Mar 30, 2001 /PRNewswire via COMTEX/ -- Maxtor Corporation (Nasdaq: MXTR chart, msgs) and
Quantum Corporation (NYSE: HDD chart, msgs and chart, msgs DSS chart, msgs) announced today that stockholders of
both companies have approved Maxtor's proposed business combination with Quantum HDD, as well as certain related
proposals. The companies anticipate that the transaction will close within the week.
This press release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on the current expectations of Maxtor and Quantum management and
are subject to uncertainty and changes in circumstances. The forward-looking statements contained herein include
statements about the consummation of the merger, which is subject to the satisfaction of closing conditions. More
detailed information about these factors is set forth in the reports filed by Quantum and Maxtor with the Securities and
Exchange Commission. Neither Quantum nor Maxtor is under any obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or
otherwise.
About Maxtor
Maxtor Corporation is a leading supplier of information storage solutions. The company's current hard disk drive
products include the award-winning DiamondMax(TM) and DiamondMax Plus line of products for mainstream and
high performance personal computers and consumer electronics applications, as well as the DiamondMax VL line for
entry-level PCs. Maxtor also offers a new 1394 External Storage(TM) solution and the MaxAttach(TM) family of
network attached storage servers.
Maxtor's leadership position has been built by consistently providing leading products, and by delivering high levels of
quality and support for its customers. More information about Maxtor and its products can be found at
maxtor.com or by calling toll-free 800-2-MAXTOR. Maxtor is traded on Nasdaq under the MXTR symbol.
About Quantum
Quantum Corporation, founded in 1980, is a leader in data protection, meeting enterprise customer needs through storage
solutions and services. The company's DLT(TM) and Storage Systems Group (NYSE: DSS chart, msgs) is the world's
largest supplier of DLTtape(TM) automation systems, providing a range of leading tape libraries from the workgroup to
the data center and such related services as data protection consulting and storage network integration support. Quantum
is a member of the Open Storage Networking (OSN) Initiative, which is dedicated to providing standards-based,
integrated solutions and services that make storage area networks (SANs) open and easier to use, including in
combination with network attached storage (NAS).
As the world's leading supplier of DLTtape drives, Quantum has established DLTtape as the industry standard platform
and a leader in data protection for mid-range servers. Recently, Quantum began shipping the first drives in its next
generation Super DLTtape(TM) product family. Super DLTtape, which is scalable up to a terabyte and backward-read
compatible with DLT 4000, 7000 and 8000 tape drives.
Quantum is also a leader in the market for workgroup-class NAS appliances through its wholly owned subsidiary, Snap
Appliances, Inc. Quantum DSS sales for the fiscal year ending March 31, 2000, were $1.4 billion. Quantum Corp., 500
McCarthy Blvd., Milpitas, CA 95035, 408-894-4000, quantum.com .
Source: Maxtor Corporation
Contact:
Investors, Renee Budig of Quantum Corporation, 408-894-5563, or
Investors, Jenifer Kirtland of Maxtor Corporation, 408-432-4270
URL: quantum.com
maxtor.com |
