Seagate Announces Binding Share Purchase of LaCie Shares

Seagate Announces Binding Share Purchase of LaCie Shares

Seagate has agreed to a binding share purchase of all LaCie shares. The shares owned by Philippe Spurch, Chairman and CEO of LaCie and his affiliates represented 64.5% of the outstanding shares, each share was at a provisional price of €4.05.

Rical Lassteyrie and Associés have been appointed as independent experts by the Board of Directors of LaCie on June 23, 2012. The transaction has already received clearance from the U.S. Antitrust Authorities, but remains subjected to regulatory approval in France and to other customary closing conditions.

Seagate will file an all-cash simplified tender offer on the remaining LaCie shares at a price of €4.05. This price shall be increased by 3% in the event that a squeeze-out procedure is implemented, resulting in a maximum potential price per LaCie share to be €4.17.

For more news about Seagate, please click here.