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Seagate Reveals Preliminary Acquisition Offer

SCOTTS VALLEY, Calif. — {complink 4842|Seagate Technology Inc.} said it has received a preliminary indication of interest regarding a going private transaction. The company is in discussions with the party from whom it received the indication of interest, and its board of directors is evaluating the indication of interest and other strategic alternatives.

The company has retained {complink 7075|Morgan Stanley}and Perella Weinberg Partners LP to provide financial advice and Wilson Sonsini Goodrich & Rosati and Arthur Cox as legal counsel. There is no assurance that the company will receive a formal offer or that any transaction will take place.

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