Seagate: Buyout Talks Live, Financing In Place, N.Y. Post Says
Seagate shares are getting a boost this morning from an upbeat story in the New York Post on the prospects for talks on taking the company private.
Yesterday, the stock took a hit on a report that talks had collapsed. That was followed by multiple reports that KKR was likely to drop out of a group that has been discussing making an offer for the disk-drive maker.
The Post says that TPG Capital has brought in a new partner–which it didn’t name–to replace KKR in the contemplated joint bid, asserting that “TPG is still very much in talks to take the business private.”