Market Down to Three Suppliers – Tom Coughlin
Seagate and Samsung announced a broad agreement this morning (April 19, 2011) that the two companies will “combine” their HDD businesses. Seagate will pay Samsung $1.38 billion, half cash and half newly-issued shares of Seagate stock, which will result in Samsung owning 9.6% of Seagate, earning Samsung a nomination for a position on Seagate’s board….