Monday, November 22, 2010

Seagate Shares Decline Amid Takeover Skepticism

Shares of Seagate Technology PLC (NASDAQ: STX) declined as much as 4% on Monday after Reuters reported that private equity firm Bain Capital's  has lost interest in bidding for disk drive maker. The private equity firm was one of several that had been initially interested in Seagate -- the others were TPG Capital [TPG.UL] and Kohlberg Kravis Roberts & Co (NYSE: KKR). However, KKR lost interest, sources previously told Reuters, leaving TPG Capital as remaining in the auction. A deal could still materialize, however. TPG had been trying to find equity partners. Stay tuned for more.

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